A Spectator's Notebook
THE GOVERNMENT can thank itself for the imbroglio now developing over the Bank rate 'leak.' It was un- wise to refuse an inquiry, particu- larly in such an offhand manner. The letter from Mr. Powell, the Financial Secretary to the Treasury, as remarkably perfunctory, and the reference ica careful investigation' seems something of an overstatement, since the Government never even asked for details of the deals which took place at the disputed time, though jobbers were willing to supply then. The afternoon before the an- nouncement of the increase in the Bank rate a number of financial journalists were briefed in the Treasury on the general economic situation, and though even if there was a leak it was almost certainly not sprung either by the briefer or by the journalists concerned, I should have thought the Government had everything to gain by °Bing quite open about it.
Previous page
