Economy: Alan Walters diary (exchange rate; new interest rate regime) [saw PM over fall in pound; measures seem to be working well on interest rates] [released 2012]

Document type:	Declassified documents
Source:	Walters MSS (Churchill Archives Centre): WTRS 3/1/1
Editorial comments:	Read other entries from this diary. View all Walters documents. The original diary can be studied here
Importance ranking:	Major
Word count:	65
Themes:	Monetary policy, Public spending & borrowing

Monday 8th June 1981

Saw PM again about fall in £.

Wrote note on interest rates and said that market had pushed them up, but still only 11% on 7 day money. New measures seem to be working well.

Saudi Int Bank for lunch. Heard about the new prudential requirements of B/E [Bank of England] - capital reserves against loans to banks far smaller than to corporations whatever their reputations.