Financial sentiment, which had been disturbed in the preceding period, remained fragile throughout November, but became gradually less anxious towards the end of the year and into 1987. In consequence, market concerns about the possibility of higher interest rates, which had never been acute, eased as the period progressed. The authorities did not consider that the general structure of interest rates should move during the two months under review.
Published on
01 March 1987
Operation of monetary policy