Economy: Alan Walters diary [high M3, sends note to PM to reassure her][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:	119
Themes:	Monetary policy

Friday 29th October 1982

MS [Michael Scholar] wrote to D/Egy about Brit Oil loyalty script [sic: scrip]

- see memo

Draft of Free Trade piece for speech on reply to Queens Speech

Keeping MMC out of ALCO BACO bid

Lunch at IEA for Hermione Parker

Peter M [Peter Middleton] reported very high provisional M3 (1.8&#37) and M1 (2.9) for October - but it turned out to be stagging of STC - sent note to PM to reassure her (about £0.5 Bn on STC stags). No reason to change interest rate

Reported to PM the discussion with Harvey Jones about closing ICI Chemical Plants.

MS said that CSO had identified the turning point in October - up we were going.