United Kingdom
BoE's Tucker on uncertainty, monetary policy, risk
In the speech 'Uncertainty, the implementation of monetary policy and the management of risk' given on 19 May Paul Tucker of the Bank of England said consumption growth in the UK today has become far more stable than in previous years, thanks to…
Bank of England's next move should be a rate cut
The Bank of England's Monetary Policy Committee would be making a mistake if it raises UK interest rates, according to this article published Wednesday 17 May.
Launch of BoE's new framework
The Bank of England launched its new framework for the implementation of monetary policy to modernise sterling money markets on Thursday 18 May.
Minutes show BoE split 3 ways on rates
The Bank of England's Monetary Policy Committee was split three ways on this month's decision to keep interest rates at 4.5 percent, minutes released on Wednesday 17 May showed.
BoE's new money market framework
The Bank of England published on Monday 15 May the lists of banks and building societies participating at the launch of its new framework for implementing the Monetary Policy Committee's interest rate decisions.
BoE's Walton sees more confidence in economy
Bank of England Monetary Policy Committee member David Walton was quoted on Friday 12 May as saying that policymakers are confident that the UK economy has clearly emerged from a soft patch early last year.
Bank of England Inflation Report, May 2006
The Bank of England published its May 2006 Inflation Report on 10 May. In remarks following the publication of the report, Mervyn King said the Monetary Policy Committee 'remains ready to take whatever action is necessary in order to keep inflation on…
Comment: Bank of England Inflation Report
British bond yields fell yesterday, despite an increase in the Bank of England's near-term inflation forecast. The Bank of England's latest Inflation Report also included a lower growth forecast for next year, which is expected to outweigh the effects of…
Europe must relax inflation test for euro entrants
According to this article by Willem Buiter, published Thursday 4 May, forcing eurozone membership candidate countries to meet both an exchange rate criterion and an inflation criterion makes no economic sense.
Gieve urged to resign from BoE
Sir John Gieve, deputy governor of the Bank of England, is being urged to resign following revelations of financial mismanagement at the Home Office, where he was permanent secretary, The Independent on Sunday reported on 30 April. The report said the…
Economic vs. Monetary Union
At a meeting at the London School of Economics Friday 28 April on the Legal Foundations on International Monetary Stability discussions focussed on the divergence between Europe's successful monetary union, and its stalled economic union.
Bank of England appoints Chief Legal Adviser
The Bank of England announced on Thursday 27 April that Dame Juliet Wheldon has been appointed Chief Legal Adviser and Adviser to the Governor.
BoE's new framework for sterling money markets
The Bank of England confirmed Wednesday that it will launch its new framework for official operations to implement interest rate decisions in the sterling money markets on 18 May.
Free trade is king, says BoE chief
Bank of England Governor Mervyn King said on Thursday 27 April that resisting protectionism is the key to prosperity.
Strategist says central banks may sell dollars
Central banks are likely to sell dollars in 2006 as they move to diversify their reserves in favour of the euro, according to BNP Paribas SA.
The UK current account deficit and all that
Bank of England Monetary Policy Committee member Stephen Nickell said in a paper published on Tuesday 25 April that the UK current account deficit is probably sustainable so long as average returns on equities exceed those on debt.
Bank of England Inflation Attitudes Survey, Apr 06
The Bank of England published its April 2006 Inflation Attitudes Survey on Tuesday 18 April. Inflation expectations in the UK have risen to their highest level in seven years, the survey said.
Bank of England voted 7-1 to hold rates
Minutes released on Wednesday 19 April showed that the Bank of England's Monetary Policy Committee voted 7 to 1 at its meeting on April 6 to keep interest rates unchanged at 4.5 per cent.
Comment: BCCI case 'a farce'
According to the presiding judge, the case brought against the Bank of England by Deloitte, liquidators for the Bank of Credit and Commerce International (BCCI), was "a farce" which "had the capacity to damage the reputation of [the British] legal system…
BCCI case was built on air - not even sand
Publication of the formal judgment on Wednesday 12 April finally brought to an end the BCCI litigation case against the Bank of England described as a myriad of "hopeless inconsistencies and implausibilities".
MPC inaction undermines need for meetings
This article, published on Monday 3 April, looks at recent comments by a member of the Bank of England's MPC, for the first time, which publicly question the need for monthly meetings of the interest rate setting committee.
BoE's Lomax questions MPC meetings
Bank of England deputy governor Rachel Lomax said in a speech in Oslo on Thursday 30 March that expectations for inflation have fallen and appear well anchored around the official target of 2.0 percent.
Reforms to BoE's money markets operations
The Bank of England has announced that, subject to conducting a successful dress rehearsal, it is aiming to introduce the new reserve-averaging scheme and standing facilities on 18 May 2006.
BoE's King sees near-term rise in inflation
Speaking before the Treasury Select Committee on Tuesday 28 March, Bank of England governor Mervyn King said that CPI inflation will likely rise above the 2 pct target over the short term.