Exchange Rates and Exchange Controls

Roy Hattersley

Chapter 6 in Economic Priorities for a Labour Government, 1987, pp 79-90 from Palgrave Macmillan

Abstract: Abstract A currency crisis, which would normally and inevitably follow as balance of payments difficulties loom was only held back in early 1987 by a combination of the highest real interest rates in our history (and in the developed world) and a number of fortuitious circumstances that cannot last — an OPEC price increase, chaos inside the EMS and dollar weakness. Nevertheless sterling still fell to its lowest ever level against the Deutschmark.

Keywords: Exchange Rate; Interest Rate; Exchange Control; Real Interest Rate; Labour Party (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-349-18608-2_6

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