Bank of England (BoE)
UK Treasury reviews cash ratio deposit scheme
Conclusions and recommendations of a UK Government review of the cash ratio deposit scheme for financial institutions. The key conclusions of the review are: The cash ratio deposit scheme continues to be a suitable method of funding Bank of England…
Insiders and outsiders at the Bank of England
The voting behaviour of members of the Bank of England's monetary policy committee is popularly portrayed as just a "hawks versus doves" dichotomy. The reality is complex reveals Petra Gerlach-Kristen.
Central bank transparency - As clear as mud
Being open and being predictable are rather different things, this article in The Economist finds. Using statistics from polls conducted before central banks' policy meetings it says that the Fed's interest rate changes are the most predictable at 95%,…
Bank of England plans 'George Fellowships'
In recognition of Sir Edward George's achievements during his lifelong service, the Bank of England plans to introduce The George Fellowships which will be used to promote research in finance and economics.
Bank of England maintains interest rates at 3.5%
The Bank of England's Monetary Policy Committee today voted to maintain the Bank's repo rate at 3.5%, 7 August.
UK interest rates left unchanged
The Bank of England left interest rates unchanged on Thursday at 3.5 per cent. The decision was widely predicted, notes the Financial Times, after the MPC made a quarter point cut at its last meeting.
An original career change
After a career in central banking, what is there left? A certain feeling of emptiness has been known to haunt ex-central bankers, which some have attempted to relieve by immersing themselves in academic studies, while others have resorted to the soothing…
Interview with Bank of England's Paul Tucker
In an interview with Dow Jones, Paul Tucker said that the outlook for the world economy remains uncertain. Tucker, who sits on the Bank of England's Monetary Policy Committee, spoke of a "delicately poised" domestic and international economy but said…
When great minds should not think alike
Committees are not necessarily the best recipe for good policy outcomes, this article in the Financial Times suggests. After Rachel Lomax joined the Bank of England's Monetary Policy Committee and immediately ruffled some feathers by dissenting from the…
Rachel Lomax and a new era for the MPC
Rachel Lomax's first Monetary Policy Meeting at the Bank of England may have labelled her a hawk for good from day one at the office. An article published by Dow Jones suggests her reluctance to vote for a rate cut when growth is weak may signal distinct…
Bank of England MPC Minutes 9/10 July 2003
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 23 July for the meeting of 9 and 10 July 2003. The MPC acknowledged that it now seemed likely that UK growth in 2003 Q2 had been weaker than the Committee had assumed in…
MPC's Lomax was only dissenter in UK rates cut
The Bank of England's nine member Monetary Policy Committee voted 8-1 for a cut in interest rates at their July meeting, minutes showed on Wednesday 23 July. The Financial Times reported that Rachel Lomax, the new deputy governor, attending her first…
Nickell on employment and taxes
In a speech on 'Employment and Taxes' given on 21 July Stephen Nickell of the Bank of England's MPC concluded that tax rates are a significant factor in explaining differences in the amount of market work undertaken by the working age population in…
Bank of England to withdraw Dickens £10 note
The Bank of England intends to withdraw the £10 note featuring Charles Dickens at the end of July. The new style £10 note with a portrait of Charles Darwin will remain in circulation.
Bank of England's Court appoints John Footman
The Bank of England has announced the appointment of John Footman as an Executive Director to its Court of Directors, 17 July. John Footman (50) joined the Bank in 1969 and has worked across most of the Bank's main functions.
UK inflation shows surprise fall
The UK inflation rate fell to 2.8% on Tuesday, moving closer towards the Bank of England's 2.5% target, according to Reuters. Most analysts had predicted an increase to 3.0%.
UK economy 'in uncharted territory'
Giving evidence before the UK parliament's treasury select committee on Tuesday new Bank of England governor Mervyn King said he had "no idea" if 3.5 per cent was exactly the right level for UK interest rates. Rachel Lomax also appeared before the…
Bank of England statement on rate cut decision
The Bank of England's Monetary Policy Committee today voted to reduce the Bank's repo rate by 0.25% to 3.50%, 10 July. In its press release the Bank said the global economic recovery remained hesitant and the cut was needed to keep inflation on track to…
Special Exhibition at the Bank of England Museum
This week the Bank of England marks the 250th anniversary of the birth, in 1753, of its renowned architect Sir John Soane with the opening of a special commemorative exhibition in the Bank's Museum, 8 July.
Bank of England meets with King and Lomax in place
The Bank of England's interest rate setting MPC began their two day meeting Wednesday. It will be the first time Mervyn King sits on the Committee as governor and the first MPC meeting for Rachel Lomax who takes over from King as the new deputy governor…
King assumes his throne
The long-awaited moment has arrived: Mervyn King has moved into EddieGeorge's offices on Threadneedle Street, now that he has been baptised asgovernor of the Bank of England.
New Bank of England governor speaks of his pride
On the eve of taking over as Governor of the Bank of England, Mervyn King spoke to The Times about his personal approach to the role, filling the shoes of Sir Edward George and crucial issues facing the financial sector, including the prospect of…
The Bank of England gets a respected new chief
Mervyn King began his 5-year term as governor of the Bank of England on 1 July. An article in BusinessWeek describes him as the brains behind the Bank's solid track record since 1997. He is viewed as both a formidable scholar and independent thinker.
Farewell Eddie
Sir Edward George retired from the Bank of England on Monday. An article in the Financial Times looks back at his time as governor which, it says, can be looked on a successful decade which will not see him move rapidly from Who's Who to Who's He?