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1982 Feb 1 - 1983 Oct 10
Prime Ministerial Private Office files

PREM19/998
Economic policy (Domestic monetary policy) (Part 10)

Source: TNA, PREM19 series
Release date: 2013 Aug 1
Classification: Secret
Page count: 272

PREM19/998 - download whole file (PDF, 48.7 MB)

Selections from this file

Showing items 1 - 20 of 48

Date Value Title
82 Feb 1 Mo Major Monetary Policy: Chancellor's PS letter to No.10 (“Interest Rates”) [possible further rate cut - but MT thinks too soon in view of money supply figures] [declassified 2013]
82 Feb 5 Fr Major Monetary Policy: No.10 minute to MT (“Monetary Policy Meeting”) [MT endorses Gordon Richardson’s correction to record about introduction of indexed gilts] [declassified 2013]
82 Feb 10 We Major Monetary Policy: Chancellor's PS letter to No.10 (briefing on markets since last week) ["the markets have had to digest a good deal of bad news, much of it of US origin"] [declassified 2013]
82 Feb 11 Th Minor Monetary Policy: MT letter to Gordon Richardson (thanking for dinner at the Bank last night) [declassified 2013]
82 Feb 22 Mo Major Monetary Policy: Chancellor's PS letter to No.10 (financial markets situation and interest rates) [Bank proposes, Chancellor accepts, immediate half point cut] [declassified 2013]
82 Feb 28 Su Major Monetary Policy: Walters minute to MT (“Interest Rates and Money Supply”) [watching closely] [declassified 2013]
82 Mar 10 We Major Monetary Policy: Walters minute to MT (“The Gilt Market and the Budget”) [Bank proved wrong in its claim indexed gilts would hit price for conventional gilts; interest rate cut imminent] classified 2013]
82 Apr 30 Fr Minor Monetary Policy: Chancellor’s PS letter to No.10 (“Bullion Gold Sovereigns and Half Sovereigns”) [declassified 2013]
82 May 19 We Major Monetary Policy: Walters minute to No.10 (“Interest Rates”) [urges half point reduction; Bank against, Treasury less so] [declassified 2013]
82 May 20 Th Major Monetary Policy: Chancellor's PS letter to No.10 (assesses financial markets and prospects for interest rates) ["no move on interest rates can be countenanced while the Falklands dispute continues"] [declassified 2013]
82 Jun 15 Tu Major Monetary Policy: Walters minute to MT (“Interest Rates”) [further half point cut agreed between Treasury & Bank] [declassified 2013]
82 Jun 16 We Major Monetary Policy: Chancellor's PS letter to No.10 (recent developments on financial markets) [rates eased down only after Falklands landing; scope for half percent more] [declassified 2013]
82 Jun 17 Th Major Monetary Policy: Walters minute to MT (“Funding and the Monetary Aggregates”) [new strategy agreed yesterday - not to overfund; "a great step forward"] [declassified 2013]
82 Jul 6 Tu Major Monetary Policy: Walters minute to MT (“Interest Rates”) ['imperative' to continue reducing rates; tightness of money, high effective exchange rate] [declassified 2013]
82 Jul 19 Mo Major Monetary Policy: Walters minute to MT (“Funding and Interest Rates”) [half point cut soon, resist temptation to overfund] [declassified 2013]
82 Jul 21 We Major Monetary Policy: Walters minute to MT (“Funding”) [new taps, national saving certificates] [declassified 2013]
82 Jul 26 Mo Major Monetary Policy: Walter Goldsmith letter to MT (The Institute of Directors’s press release on Government’s reflation policy) [business against reflation] [declassified 2013]
82 Aug 9 Mo Major Monetary Policy: Chancellor of the Exchequer minute to MT (Monetary policy: Current situation and future prospects) [aim to "maintain steady downward momentum of … rates"] [declassified 2013]
82 Sep 14 Tu Major Monetary Policy: Walters minute to MT (“Interest Rates and Monetary Policy”) [look for further rate cuts when opportunity offers] [declassified 2013]
82 Oct 11 Mo Major Monetary Policy: Walters minute to MT (“Interest Rates”) [room for further rate cut of half or one percent, though it will reinforce perceptions that HMG has exchange rate target] [declassified 2013]