Economy: Alan Walters diary [downward slide in US interest rates; secrecy over Minford Report][released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS3/1/2
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	178
Themes:	Monetary policy, Trade unions

Monday 11th October 1982

Mkts very active - Peter M [Peter Middleton] phoned to suggest that Volker’s [Paul Volcker] statement had fuelled a downward slide in interest rates in USA

MS [Michael Scholar] came to explain great SECRECY over Minford’s Report - only selected Ministers - carried by special messenger to Elephant + Castle

- but quite absurd because no class in Liverpool - no class in Liverpool - no class material

No public money spent on it

CPS Lunch with 2 Guardian and 1 Times (Stotherd) [Peter Stothard]

Mtg with D/E man - Tebbit intends to push ahead with Union Officer Postal Ballots and contracting IN.

not going on to Immunities yet a while

Pete M [Peter Middleton] said Bank wanted to issue £1Bn 1990 - but negotiated £1 Bn 1988

- with a QPQ - i.e. buy £1 Bn 1992-3’s - 9½ coupon but 10.4 yield - still too high.

¼% fall in Intervention Rates

were offered bid for bills in band 1 at ½% Fall so didn’t deal

Dow Jones 1000+

FT 600+