Bank of England (BoE)
George says public spending will prop up growth
Speaking on Tuesday the Bank of England's governor, Sir Edward George said public spending will underpin UK economic growth once consumer demand starts to wane, but any "substantial and generalised" public sector pay rises will push up inflation. He gave…
London not losing out over euro says B of E
In its six monthly 'Practical Issues Arising from the Euro' the Bank of England said on Friday that the City of London had retained its share of foreign exchange trading and in various other dealing areas since the introduction of the euro as a tradeable…
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting released on 20 November for the meeting of 6 and 7 November 2002. The nine MPC members voted on a proposal to maintain the repo rate at 4.0%. Seven voted in favour of this with…
King on The Inflation Target 10 Years on
SPEECH - In the speech 'The Inflation Target 10 Years on' Mervyn King of the Bank of England said the Monetary Policy Committee could not target asset prices directly but spent a lot of time questioning how such changes should affect policy. He believes…
Bank of England voted 7-2 to hold rates
The Bank of England seem to be moving away from an easing bias, minutes published Wednesday show. The previous record showed three committee members wanted a quarter point rate cut but this time Kate Barker shifted back with the majority in favour of…
Edward George on price/earnings ratios
SPEECH - Sir Edward George of the Bank of England told the Association of Corporate Treasurers last week that on some measures price/earnings ratos were back to the long-term averages. Is he saying the equity bubble is over, at least in the UK?
Bank of England Inflation Report, November 2002
REPORT - The Bank of England published its quarterly Inflation Report for November 2002 on Wednesday. In the report the bank recognises the fragility of the world economy and continued stock market volatility. The report reveals that inflation is…
Cautious Bank of England holds rates steady at 4%
UK - The Bank of England on Thursday left is main interest rate unchanged at 4 per cent for the twelfth consecutive month, despite the US Federal Reserve's unexpectedly large rate cut on Wednesday.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 7 November.
Lack of mavericks 'poses threat' to MPC committee
UK - The Bank of England risks making mistakes in its interest rate decisions because of a lack of maverick thinkers and a growing tendency towards consensus on its monetary policy committee, according to Capital Economics, a consultancy.
The art of central banking
An undergraduate wanting to know what central banking is all about would do far better talking with somebody like Ian Plenderleith than reading any economic textbook. Plenderleith gave the interview to Central Banking on retirement from the Bank of…
House boom 'should not deter Bank' from rate cut
ARTICLE - The house price boom should no longer stand in the way of a cut in interest rates, according to Stephen Nickell, the longest-serving external member on the Bank of England's monetary policy committee.
Expectation increases of UK interest rate cut
UK - The odds against a cut in interest rates before the end of the year have shortened sharply after it emerged that three members of the Bank of England's monetary policy committee voted for a cut earlier this month.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting released on 23 October for the meeting of 9 and 10 October 2002. The nine MPC members voted on a proposal to maintain the repo rate at 4.0%. Six voted in favour of this, however…
Through the looking glass into deflation
SPEECH - DeAnne Julius, a former member of the Bank of England's Monetary Policy Committee, assesses the risk of global deflation as quite high in her keynote speech at The Banker Awards 2002 dinner.
George on the current state of the UK economy
SPEECH - In a speech made on 15 October, Sir Edward George of the Bank of England said internationally and in the UK the monetary policy debate has shifted back to the possible need for monetary stimulus. He said There had been a "nervous breakdown" in…
Bank defends its position on interest rates
UK - Members of the Bank of England's rate-setting body on Monday defended it against criticism that it has not done enough to prevent escalating house prices in Britain.
Kate Barker on monetary policy and asset prices
SPEECH - In the speech 'Monetary Policy - A Perpetual Dilemma?' made on 14 October Kate Barker of the Bank of England questioned whether it was the role of monetary policy to protect individuals from the risks asset price bubbles pose and whether such…
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 10 October.
Bank of England News Release
NEWS RELEASE - Bank of England Meetings in Manchester and Liverpool, 7 October.
UK Treasury Report - Andrew Large's Appointment
REPORT - UK Treasury Select Committee report on the appointment of Sir Andrew Large as a Deputy Governor of the Bank of England and Member of the Monetary Policy Committee, released 30 September. The committee concluded, 'We are satisfied that Sir Andrew…
Brown rebuked for slow appointment of BofE's Large
UK - Gordon Brown's failure to appoint a new deputy governor to the Bank of England before the old one left earned a rebuke Monday from a parliament inquiry.
Blejer set for Bank of England role
UK - Mario Blejer, former governor of Argentina's central bank, is heading for a calmer climate and will take up the post of director at the Bank of England's Centre for Central Banking Studies.
UK Treasury Press Release
PRESS RELEASE - Chancellor and Sir Edward George pledge more money for Commonwealth Education Fund, 24 September. Chancellor Gordon Brown, and Governor of the Bank of England Sir Edward George, today announced the auction of low-numbered £5 banknotes,…