Archive (Walters MSS)

Economy: Alan Walters diary (interest rates) [PM agrees to YTS wording; US interest rates through the roof][released 2012]

Document type: Declassified documents
Source: Walters MSS (Churchill Archives Centre): WTRS 3/1/2
Editorial comments: Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking: Major
Word count: 110
Themes: Monetary policy

Monday 21st June 1982

PM agreed to my wording on YTS application to Public Sector jobs - restricted to Commercial + Industrial establishments

US interest rates and $ going through roof

Lunch at Warburg Smithers Eric Roll + Tim Smithers wanted (a) MBC and (b) Conversion

- debated also Gvrship [Bank of England] - no one on the horizon + Roll agreed that changes had to be made at the top

Fforde, George + Middleton on interest rates

- cannot go down with our rates while US Euro dollar rates are 16½% Treasury Bull 12½% or so

Dinner at Harold Levers Eé Lauder and Mrs Watt, Frank Giles, Rothschild, etc.