Bank of England - Annual Report 2005

The Bank of England published its Annual Report for 2005 on 15 June. In his Foreword governor Mervyn King said many of the initiatives arising from the fundamental review of Bank Strategy are already in train.

The Monetary Analysis divisions have become more focused on the monetary policy responsibilities of the Bank, and the mix of staff will shift towards fewer but more experienced economists. The reform of our money market operations has been extensively discussed with the market, and

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