General assessment

Quarterly Bulletin 1985 Q3
Published on 01 September 1985

Since the spring the US dollar has fallen against most other currencies while dollar interest rates have also declined and economic growth in the United States slowed further. The expansion of activity in Europe and Japan was insufficient to offset this. At home, output recovered from the coal dispute and price rises, though not wage increases, have abated. Against this background the movements of sterling and the monetary aggregates, and their influence on the conduct of policy, are discussed.

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