Bank of England (BoE)
Incoming B of E chief King prepared to lose vote
Mervyn King a noted hawk on the Bank of England's Monetary Policy Committee has said he is prepared to vote against the majority if necessary when he takes up his post as governor in the summer.
Barker on adjusting to low inflation
SPEECH - In the speech 'Adjusting to low inflation - Issues for policy' Kate Barker of the Bank of England said that if the Bank tried to control the build-up of house-hold debt, it might restrain growth in the economy, making people worse off and…
Interest rate warning on euro entry
Bank of England MPC member Kate Barker has called into question the economic case for joining the euro citing "difficulties in the European policy background and problems with the UK exchange rate".
Bank of England Inflation Report, February 2003
REPORT - The Bank of England published its quarterly Inflation Report for February 2003 on Wednesday. In the report the Bank reduced its growth forecast for the UK economy to 2.5 per cent this year from 3 per cent. On the euro-zone economy the report…
Monetary Policy Committee or Puzzle Committee?
ARTICLE - Perhaps the Bank of England's Monetary Policy Committee should be re-named the Monetary Puzzle Committee suggests Stephen King in an article. For him the B of E's decision to reduce interest rates last week after Sir Edward George criticised…
Bank of England Press Release
PRESS RELEASE - Bank of England Reduces Interest Rates by 0.25% to 3.75%, 6 February 2003.
Bank of England surprises with 0.25% rate cut
The Bank of England's Monetary Policy Committee surprised markets on Thursday with a quarter point interest rate cut to 3.75%.
Julius joins ex-MPC member at hedge fund
DeAnne Julius, a former member of the Bank of England's Monetary Policy Committee, has joined her old colleague Sushil Wadhwani at a hedge fund which manages $1bn (UK £625m).
Bank of England Press Release
PRESS RELEASE - Modelling and Forecasting at the Bank of England - The Pagan Report and the Bank's Response, 30 January.
Bean on economists and the real world
SPEECH - In the speech 'Economists and the Real World' Charles Bean of the Bank of England said it is often said that central bank independence is desirable because it takes the politics out of monetary policy. He also said an important feature of the…
IMF Working Paper Series
RESEARCH - In the paper 'Market Predictability of ECB Monetary Policy Decisions: A Comparative Examination' Kevin Ross tests the idea that surveys of the ECB's monetary framework emphasise the inability of financial markets to correctly predict monetary…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Information Technology plays a crucial role in modern central banking. In this weeks special feature CentralBankNet presents an exclusive interview with the Bank of England's Head of Information Technology, Andrew Brookes.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting released on 22 January for the meeting of 8 and 9 January 2003. The same pattern of voting was seen at this meeting as in the previous two meetings. The nine MPC members voted…
Edward George at the Scottish Bankers Dinner
SPEECH - In a speech Sir Edward George of the Bank of England said it would be unwise to set monetary policy on the basis of the worst possible outcome. Risks to the economy, including a sharp fall in consumer spending and a house price crash, "need to…
UK Treasury Committee - Review inflation targeting
The UK's House of Commons Treasury Select Committee on Thursday criticised Chancellor Gordon Brown's economic policy and suggested a review of the Bank of England's inflation target.
BIS meeting - Central bankers wary of Iraq war
Central banks need to watch the situation in Iraq closely and be prepared to act to stop any war damaging a modest world economic pickup in 2003, Bank of England Governor Sir Edward George said on Monday at a regular BIS meeting in Switzerland.
Bank of England Press Release
PRESS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 9 January.
Nickell on house prices and household debt
SPEECH - In the speech 'House Prices, Household Debt and Monetary Policy' Stephen Nickell of the Bank of England said an interest rate reduction at present would affect house prices, household borrowing and consumption, which are already increasing…
Bank of England Press Release
PRESS RELEASE - Sale of Bank of England Banknote Printing Operations, 17 December.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting released on 18 December for the meeting of 4 and 5 December 2002. The nine MPC members voted on a proposal to maintain the repo rate at 4.0%. Seven voted in favour of this with…
UK inflation rate hits four-year high of 2.8%
UK inflation jumped in November to its highest level in more than four years. In its recent inflation report the Bank of England said that the rate was likely to rise in the short term but fall back towards the 2.5 per cent target at the end of 2003.
Bank of England Quarterly Bulletin, Winter 2002
REPORT - The Bank of England released its Quarterly Bulletin, Winter 2002, on 16 December. In the report the Bank warned that increased debt levels among British consumers could lead to a problem if the economy turns sharply weaker. "Overall, changes in…
Bank of England Financial Stability Review, Dec 02
REPORT - The Bank of England published its Financial Stability Review for December 2002, Issue 13, on 12 December. It contains the Bank's regular half-yearly assessment of risks to financial stability, together with a number of articles including " The…
Edward George at European Finance Convention
SPEECH - In a speech to the 16th European Finance Convention Edward George of the Bank of England welcomed the idea of the increasing evolution of the European Union, but with a more "gradual and incremental" approach to integration. He cautioned that…