Tuesday 2nd February 1982
US interest rates shot up yesterday
PM say Treasury Note and is nervous in view of M1 2½% figures - but this is still well below trend.
Markets reacting very well to US money supply figures - stlg [sterling] appreciated on day to 91.9. Interest rates remained steady and even gilts recovered.
PS [Private Secretary] Lunch
Pym’s statement on miserable econ prospects caused PM some difficulty at Questions but she dealt with it very well.
Talk in City to IoD [Institute of Directors] - good response - all really on my side.
PM dining with Walter Salomon
Hayek, Axel Springer + PM - a historic meeting. Walter excellent host.