Monday 13th December 1982
Some pressure in Far East
ER85.8 Gilts ↓ 1.00 7 day 3m 1015/16 - 1013/16
Not much change in spite of U.S. money supply figures being good.
Memo on Trade Policy - E Cttee memo by Cockfield said we aim for open trading system - then went on to suggest [sic]
McAnally Montgomery - Gilchrist (Union Discount) thought that there should be another 1% on base rates - Bank was fighting too hard - I told Gilchrist that a fall in US rates would relieve the pressure -and I ex [sic]
PM a bit panicky on the Production Index
- rather depressing - speaking to a group of G + G [?Great and the Good; MT engagement diary shows her dining with The Parlour at Claridges, 2000]
AG [Alfred Goldstein] decided NOT to sign Serpell Report although great pressure is being brought to bear on him.
Peter M [Peter Middleton] thinks we can make it through to New Year without increasing base rates
Note on Trade Policy