Archive

Large scale document archive

1988 Jan 9 - 1988 Jun 24
Prime Ministerial Private Office files

PREM19/2086
Economic Policy (Domestic monetary policy) (Part 18)

Source: TNA, PREM19 series
Release date: 2016 Jul 21
Classification: Secret
Page count: 397
Themes: Economic policy - theory and process, Monetary policy, Executive

PREM19/2086 - download whole file (PDF, 278.17 MB)

Selections from this file

Showing items 21 - 29 of 29

Date Value Title
88 May 13 Fr Major Monetary Policy: Paul Gray minute to MT ("Markets") [strong upward pressure on sterling; Lawson favours 0.5 percent cut in rates, Gray and Griffiths oppose it; doubtful prospects for further intervention] [declassified Jul 2016]
88 May 26 Th Major Monetary Policy: Lord Young letter to Nigel Lawson ("Report on the Stock Market Fall") [Black Monday crash - UK systems stood up well; scepticism as to US "circuit breakers"] [declassified Jul 2016]
88 Jun 1 We Major Monetary Policy: Nigel Wicks minute to MT ("Markets") [pound has moved downwards; Lawson will urge 0.5 per cent rate rise tomorrow; "looks right"; MT agreeing] [declassified Jul 2016]
88 Jun 1 We Major Monetary Policy: Treasury minute ("The Reserves in May 1988") [$676 rise in the reserves, $814m underlying] [declassified Jul 2016]
88 Jun 2 Th Major Monetary Policy: No.10 record of conversation (MT-Chancellor of the Exchequer) [Lawson proposed immediate 0.5 per cent increase in interest rates and MT agreed; possible further 0.5 per cent discussed] [declassified Jul 2016]
88 Jun 7 Tu Major Monetary Policy: Deputy Governor of Bank of England letter to Lord Young ("Report on the Stock Market Fall") [Bank would prefer him not to publish the report] [declassified Jul 2016]
88 Jun 13 Mo Major Monetary Policy: Nigel Lawson letter to Lord Young ("Report on the Stock Market Fall") [no case for publication, would seem "a somewhat feeble and very belated response to October's events"] [declassified Jul 2016]
88 Jun 17 Fr Major Monetary Policy: Paul Gray minute to MT ("The Markets and Interest Rates") [Lawson wants 0.5 per cent increase later next week] [declassified Jul 2016]
88 Jun 24 Fr Key Monetary Policy: No.10 conversation record (MT-Chancellor of the Exchequer) [market handling in light of bad trade figures; possible increase in interest rates; Lawson agreed need for "a period of significant tightening of policy", rates at 10 percent or higher] [declassified Jul 2016]