In the course of an address to the Finance Houses Association, the Governor discusses three topics:
- The response of the finance houses to developments in the industrial and consumer credit market.
- The stance of monetary policy, which now '... has regard to a number of indicators, including the exchange rate, rather than to any single monetary aggregate... There is confidence that a more pragmatic approach has not meant a weak one.'
- Supervision of deposit-taking institutions. '... we have sought to retain our personal and informal style of relationship with management. Our concern has been to keep to a minimum interference in the great majority of companies that are soundly managed, but to supervise more actively the minority who most need it.'
Recent changes in the monetary and regulatory framework - Governors speech