TNAG-1347-FCO40-1777-Financial-policy-in-Hong-Kong-1984 — Page 54

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BANK OF ENGLAND Threadneedle Street

London

EC2R 8AH

19 June 1984

Mr D L C Peretz HM Treasury Treasury Chambers Parliament Street

London

SW1P 3AG

Dear David

CH/EXCHEQUER

REC.

20 JUN1984

AMMA MRC. KELLY

ay.$

EST

iJ

SIR R. MIDDLETON

MR

LITTLER

MR UNWIN

MR LAVELLE

HONG KONG MONETARY ARRANGEMENTS

You will remember that I wrote to you earlier, on 5 June,

enclosing a copy of a somewhat mischievous article on Hong Kong,

written by Tom Sargent and Neil Wallace, and published in the Federal Reserve Bank of Minneapolis Quarterly, together with a covering letter to Tony Latter, discussing how, if at all, we might respond to this. In the event, Tony has written a letter

of complaint to Tom Sargent, which you might like to see, and

which anyone, to whom you sent the earlier paper and correspondence,

might also like to note.

Yours sincerely

Charles

CA E Goodhart