Bank of England (BoE)
Bank of England interest rate option study
CENTRAL BANK RESEARCH - In the first of a series of research papers published by the Centre for Central Banking Studies at the Bank of England, Richhild Moessner provides a survey of the structure and use of the over the counter options market focussing…
Bank of England cuts interest rates by 0.25%
UNITED KINGDOM - The Bank of England cut interest rates by another quarter point on Apr 5, 2001, bowing to pressure from tumbling stock markets and weakening economic data.
BoE Plenderleith comments on sterling bond market
SPEECH - In a speech to a conference organised by the Association of British Insurers on Apr 2, 2001, Ian Plenderleith, executive director of the Bank of England and a member of the Monetary Policy Committee, reviews developments in the sterling non-gilt…
Computer support for reserves managers-Nugee
RESERVE MANAGEMENT - Deciding on the right level of computer support for reserve managers in a world of fast changing technology often makes it preferable to outsource some IT provision, says John Nugee, former head of reserve management at the Bank of…
BOE Julius to leave central bank in 2 months-FT
UNITED KINGDOM - DeAnne Julius, one of the most dovish members of the Bank of England's rate-setting Monetary Policy Committee, is poised to leave the central bank in two months.
New measure of core inflation in the UK-BoE paper
CENTRAL BANK RESEARCH - The Bank of England's monetary policy committee research unit has published a paper which addresses the usefulness of measures of core inflation. The paper, commissioned by external MPC member DeAnne Julius, uses an 'improved'…
The New Economy: Myths and Realities-Wadhwani
SPEECH - In his Travers Lecture at the London Guildhall University on Mar 20, 2001, Sushil Wadhwani, an external member of the Bank of England monetary policy committee, argues it is possible that measurement issues have led forecasters to overestimate…
BoE ready to cut UK rates if necessary-minutes
Britain's central bank is ready to lower borrowing costs if the global economic outlook worsens or British consumer spending starts to ease, minutes of the Bank's last policy meeting showed on Mar 21, 2001.
BoE ready to act if sharp US downturn-Plenderleith
Britain's central bank will be ready to cut interest rates again if the slowdown in the U.S. economy proves more severe than expected, Bank of England Executive Director Ian Plenderleith said on Mar 14, 2001.
Bank of England Quarterly Bulletin - Spring 2001
RESEARCH PAPER - The Bank of England has published the spring 2001 issue of the Quarterly Bulletin, the first issue to be published to a new timetable separated from the quarterly Inflation Report. There are four key articles, mainly dealing with the UK…
Recent Developments in Financial Markets-Clementi
SPEECH - In a speech titled "Recent Developments in Financial Markets: Some Implications for Financial Stability" delivered at the Banca D'Italia on Mar 9, 2001, David Clementi, deputy governor of the Bank of England, discusses some recent developments…
Recent US data 'quite encouraging' - BoE George
Central bankers from the Group of l0 industrialized nations believe a pick-up in the U.S. economy during the second half of this year "remains the most likely outcome," Eddie George, current chairman and head of the Bank of England, said on Mar 12, 2001.
The rise and fall of consortium banks-by R Roberts
ARTICLE - Consortium banks, which flourished in the early "unregulated" years of the Euromarkets, have all but disappeared. Richard Roberts explains how concern about their stability prompted the BIS to develop the principle of "parental responsibility"…
Bank of England holds rates at 5.75% for now
The Bank of England left its key interest rate steady at 5.75 percent on Mar 8, declining to cut rates despite a deteriorating global economic outlook.
Impact of macro news announcements on exch rates
Andrew Clare and Roger Courtenay from the Bank of England have written an interesting paper titled "Assessing the impact of macroeconomic news announcements on securities prices under different monetary policy regimes". The study investigates whether the…
UK budget should not influence BoE-MPC's Nickell
The fact that the next policy meeting of Britain's central bank comes the day after the annual budget should not prevent its Monetary Policy Committee (MPC) from altering interest rates, an MPC member has said.
'Foreign Exchange Reserves Management'-John Nugee
The Centre for Central Banking Studies at the Bank of England has recently published a handbook on "Foreign Exchange Reserve Management" written by John Nugee who at the time was head of reserve management at the Bank. This is one of the few…
UK MPC voted unaminously for Feb rate cut-minutes
Minutes of the Bank of England's Monetary Policy Committee meeting in early February 2001 showed all nine members backed the cut to 5.75 percent, with some seeing a case for a half point reduction in borrowing costs.
BoE pressed to publish dissent on forecasts
Pressure is mounting on the Bank of England to make its inflation forecasts more transparent despite recent attempts by the central bank to make public the divergent views of its policymakers. The Bank's quarterly inflation forecast is closely watched by…
BoE's George says may have to pen inflation letter
Bank of England Governor Sir Edward George said on Feb 17, 2001 it was possible inflation in Britain would stray a full point away from its target, meaning he would have to write to the government explaining why. UK inflation currently stands at its…
Interview: Charles Goodhart
In a wide-ranging interview, Professor Charles Goodhart gives his views on the main challenges facing central banks today: output gap forecasting and productivity shifts, and the role of asset prices and the exchange rate in monetary policy. He also…
Interview: BoE's MPC member Sushil Wadhwani
Sushil Wadhwani, an "external" member of the monetary policy committee of the Bank of England, explains why he is a "productivity optimist". Over the last decade, forecasters have systematically underestimated GDP growth in the UK and simultaneously…
Bank of England expects growth to slow in Q2 2001
The United Kingdom's annual growth rate will drop to around 2% in the second half of 2001, the Bank of England projected, even as unemployment data showed the number of jobless Britons fell far more than expected in January 2001. In its first quarterly…
Bank of England cuts rates by 0.25%
The Bank of England has cut its key UK interest rate by 0.25% to 5.75%. It is the first cut for nearly two years. The decision, announced at noon in London on Feb 8, 2001, followed the latest two day monthly meeting of the Bank of England's Monetary…