Your IndustryOct 9 2015

Back in the Day: October 1985

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Back in the Day: October 1985

Today, we go back 30 years in time and look at Money Management’s October 1985 issue which had a rather fancy couple enjoying a glass of champagne gracing the cover.

The magazine is from the time when the UK gilt markets held up quite well despite the strength of the US dollar that continued to confront all non-US bond markets. UK equity markets remained volatile due to speculative activity and high domestic liquidity.

In the US, the Federal Reserve was of the view that the US economy is showing signs of recovery to a 3 to 4 per cent growth rate in the second half, and temptation to tighten monetary policy remained. Interest rates were expected to stay unchanged in the short term and to start to decline when there was no real sign of inflation picking up.

In other news, the magazine carried a feature on investing in Australia. In the feature, Steve Fraser says Australia was otherwise known as a “lucky country” but had hardly been lucky for UK investors over the recent years.

Debt in the economy was a major problem back then with a AUS$10.1bn (£4.8bn) deficit on trade and other current international finance transactions. The Australian dollar slumped by 21.1 per cent in the year to April then, with most of the fall occurring in the first quarter of the year and the then Prime Minister Bob Hawke started feeling the pressure.

The magazine also included features on innovations in financial services, analysis of the changes made to the Budget in 1985 and whether investing in diamonds is a sound investment.

In other news....

3 October – The Space Shuttle Atlantis made its maiden flight.

6 October – The Power of Love by Jennifer Rush was at the top of the singles chart.

18 October – The first Nintendo home video game console in United States was released as the Nintendo Entertainment System.

More Back in the Day:

September 2000

November 1996

August 1998