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?

Selections from this file

Showing items 1 - 20 of 30

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Date Valuesort descending 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 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 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 Jan 4 Mon Monetary Policy: No.10 conversation record (MT-Chancellor of the Exchequer) [decision to 'uncap' the pound from Monday] [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 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 Feb 1 Mon Monetary Policy: No.10 record of conversation (MT-Chancellor of the Exchequer) [Lawson proposed 0.5 per cent interest rate increase; MT agreed, subject to no intervention to check rise in sterling above 3DM] [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 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 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 Jan 11 Mon Monetary Policy: Paul Gray minute to MT ("Market Report: 11 January") [MT: "Acquiring MORE DOLLARS?!"] [declassified Jul 2016]
88 Feb 12 Fri Monetary Policy: Paul Gray minute to MT ("Valuation of the Reserves") [Treasury notes following MT requests after talking with Walters] [declassified Jul 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 Feb 12 Fri Monetary Policy: Lawson PS letter to Paul Gray ("Paper for Economic Cabinet") [economic performance, prospects - "the strongest position for many years"] [declassified Jul 2016]
88 Feb 10 Wed Monetary Policy: Lawson PS minute to Paul Gray ("Accounting for the Reserves in the UK and Germany") [Bundesbank losses on dollar holdings; complexity of comparing the two countries' positions] [declassified Jul 2016]
88 Feb 12 Fri Monetary Policy: Lawson PS minute to Charles Powell ("International Financial Scene") [economic outlook for international debt] [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]
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 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]