Bank of England (BoE)

Gieve: we need new instruments

Sir John Gieve, the deputy governor of the Bank of England, has admitted that the Bank underestimated the scale of the credit crisis and said the turmoil has demonstrated the need to equip central banks with new policy tools.

UK inflation falls as King writes letter

British inflation fell in November but remains far above the Bank of England's target, obliging Mervyn King, the governor of the central bank, to write another letter explaining why inflation remains so high and what the Bank is doing to bring it down.

BoE survey confirms household squeeze

The results of a survey of household finances, published on Monday by the Bank of England, finds that 71% of British homeowners and tenants have experienced declines in their disposable income in September compared with the same month last year.

Co-movements highlight policy stance

Low-frequency co-movements between inflation and money growth, and short-term interest rates and money growth shed light on a central bank's monetary policy stance, states a paper from the Bank of England.

Bank cuts to historic low

The Bank of England cut interest rates to their lowest level since 1951 on Thursday and stressed that further steps would be needed to prevent a deep recession.

Bank of England sees deep recession

The Bank of England sharply adjusted its outlook for growth and inflation in the British economy, saying it was "very likely" that the UK was already in a recession that could last until 2010.

King justifies re-capitalisation

With banking conditions at their direst since the beginning of First World War, the British Treasury had to re-capitalise the country's ailing banking sector, said Mervyn King, the governor of the Bank of England.

The tragic mistakes of the central banks

As the print dries on the European and US bank nationalisation plans and praise is sung for the financial statesmanship behind these, it is important (at least for posterity) to draw attention to the fact that there was an alternative route back to…

Bank reforms money market operations

The Bank of England set out plans for three major reforms of its money market operations, including proposals for two new facilities aimed at alleviating the tensions that have kept prices for interbank loans well above historical norms.

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