Last year when we met on a similar occasion I recall that I suggested that the task before us was to steer the economic expansion, which was already then the aim, in such a manner as would provide for continuing expansion but without re-creating the conditions which, in 1 961, had provoked the need for exceptional restraint. The policies which have been pursued during the past year and the measures used seem to me consonant with this aim.
Speech by the Governor of the Bank of England