Archive

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

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

Document type: File list item
Source: TNA, PREM19 series
Release date: 2016 Jul 21
Classification: Secret
Page count: 397
Any docs withheld?

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

Selections from this file

Showing items 1 - 20 of 30

Per page:
Datesort ascending Value Title
88 Jun 24 Fri 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]
88 Jun 17 Fri 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 13 Mon 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 7 Tue 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 2 Thu 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 1 Wed 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 Wed Monetary Policy: Treasury minute ("The Reserves in May 1988") [$676 rise in the reserves, $814m underlying] [declassified Jul 2016]
88 May 26 Thu 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 May 13 Fri 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 6 Fri Monetary Policy: Treasury minute ("Monthly Monetary Assessment: April 1988") [moderation in growth of economic activity] [declassified Jul 2016]
88 Mar 31 Thu Monetary Policy: Paul Gray note to MT (Financial Times) [proposed article by Alan Walters; MT concerned at scope] [declassified Jul 2016]
88 Mar 30 Wed Monetary Policy: Treasury minute ("Monthly Monetary Assessment: March 1988") [indicators suggest a strong economy] [declassified Jul 2016]
88 Mar 25 Fri Monetary Policy: No.10 conversation record (MT-Chancellor of the Exchequer-Governor of the Bank of England) ["Exchange Rate Policy"] [declassified Dec 2016]
88 Mar 17 Thu Monetary Policy: No.10 record of conversation (MT, Lawson) ["Interest Rates" - MT agreed Lawson proposal of 0.5 per cent cut at 0945] [declassified Jul 2016]
88 Mar 10 Thu Monetary Policy: Treasury minute ("Money Supply in February: 'First Guess' for M3 and Outturn for M0") [low outturn for M3] [declassified Jul 2016]
88 Mar 4 Fri Monetary Policy: Gray minute for MT ("Overnight Market Report") [further heavy intervention overnight to hold down sterling against DM; Lawson not wanting to uncap so near to budget; MT opts to meet with Lawson] [declassified Jul 2016]
88 Mar 4 Fri Monetary Policy: No.10 conversation record (MT-Chancellor of the Exchequer) ["Market Management" - Lawson accepts that rate should be allowed to move above DM3 on Monday if sterling still under upwards pressure] [declassified Dec 2016]
88 Mar 3 Thu Monetary Policy: Gray minute for MT ("The Markets") [heavy intervention to hold down sterling against DM; options, including uncapping the pound] [declassified Jul 2016]
88 Mar 3 Thu Monetary Policy: Griffiths minute for MT ("Intervention and the Markets") ["I believe the time is now right to uncap the DM/£ exchange rate"] [declassified Jul 2016]
88 Feb 15 Mon Monetary Policy: Lawson PS minute to Butler PS ("Cabinet 18 February: Chancellor's Paper on Economic Strategy") [historically strong economic performance in 1987] [declassified Jul 2016]