United Kingdom
BoE's Walton: Has oil lost the capacity to shock?
In the speech 'Has oil lost the capacity to shock?' given on 23 February David Walton of the Bank of England said that the UK economy appears to have emerged relatively unscathed from a doubling in oil prices since the end of 2003.
Sir John Gieve to head BoE security review
The review of the security of banknote storage which the Bank of England announced on Wednesday 22 February will be headed by Sir John Gieve, Deputy Governor of the Bank.
Bank of England switches auditors
The Bank of England has decided to offer its audit work to Big Four rival KPMG, ending one of PricewaterhouseCoopers longest running audit contracts.
Biggest UK robbery promps BoE security review
The Bank of England is to review security for banknote storage following Britain's biggest ever robbery at a cash centre in Kent that may have netted the thieves between £40-50 million.
BoE voted 8-1 to hold rates
The Bank of England's policy-making Monetary Policy Committee voted 8-1 to keep UK interest rates unchanged this month, with Stephen Nickell again as the sole member calling for a reduction.
Bank of England Payment Systems Oversight Report
The Bank of England published its second Payment Systems Oversight Report on Friday. It contains the Bank's latest assessment of UK payment systems against the internationally-recognised Core Principles for Systemically Important Payment Systems.
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Comment: Payment system risks
While few would regard Britain's large-value payment system as risky - over its ten-year life, the system has suffered no major scares - how the system will bear up in a crisis or time of market stress is a cause for concern.
Bank of England Inflation Report, February 2006
The Bank of England published its February 2006 Inflation Report on 15 February. Governor Mervyn King told a press conference the outlook for the UK economy is "benign" and the slowing of consumer spending growth that began in the middle of 2004 "appears…
Committee says Gieve fulfils BoE criteria
The UK Treasury select committee said Wednesday that new Bank of England Deputy Governor Sir John Gieve 'fulfils the criteria' for his new position.
BoE leaves rates unchanged
The Bank of England left interest rates unchanged at 4.5% following its two-day monetary policy meeting. The bank's Monetary Policy Committee (MPC) last cut rates in August 2005, when policy rates were reduced by 0.25%.
BoE legal eagle set to retire
According to the Guardian's City diary, Malcolm Glover would have retired from the Bank of England at the end of 2004 had it not been for the litigation brought by the BCCI liquidators.
UK urged to provide more long-term gilts
The UK government should issue more long-term gilts and extend its use of index-linked gilts, investors told the government in an annual consultation meeting on Wednesday 1 February.
Greenspan to become adviser to UK Chancellor
The UK Treasury on Wednesday 1 February announced that Dr Alan Greenspan KBE has agreed to be Honorary Adviser to the Chancellor of the Exchequer Gordon Brown.
Bank of England given BCCI payout
The liquidator of Bank of Credit and Commerce International made an initial £73m payment to the Bank of England on Monday 30 January for legal costs incurred in its successful defence against the abandoned "misfeasance" claim in the High Court.
Barker: BoE's growth forecast may be optimistic
Monetary Policy Committee member Kate Barker has warned that UK economic growth may fall short of the Bank of England's forecasts, UK daily the Guardian reported.
BoE's Gieve: Oil prices should not impact on rates
John Gieve, the new deputy governor of the Bank of England, on Thursday 26 January rejected suggestions that UK interest rates should rise simply because of very high energy costs.
Comment: The Old Lady's new deputy
The Bank of England's new deputy governor for financial stability, Sir John Gieve, appeared yesterday before the Treasury Committee of the House of Commons for his appointment hearing.
Bank of England voted 8-1 to hold rates
Minutes of the Bank of England's last Monetary Policy Committee meeting, released Wednesday 25 January, showed that only dovish Stephen Nickell wanted to lower UK interest rates a quarter-point.
Comment: Lambert on CB communication
In a speech delivered in Mumbai earlier this week, Richard Lambert, an external member of the Bank of England's Monetary Policy Committee, argued that although a disciplined communications strategy is an absolute necessity for all modern central banks,…
Bank of England demands costs for legal case
The Bank of England is making a demand for costs of up to £80 million for legal costs incurred defending the failed £850 million lawsuit by accountancy giant Deloitte, liquidator of the scandal hit Bank of Credit & Commerce International.
BoE's Lambert 'admired' King's rate decision
In the speech 'Central bank communications: Best practices in advanced economies' given on 23 January Richard Lambert of the Bank of England, a former editor of the Financial Times, highlighted the likely change in communication at the Federal Reserve,…
BoE's Lomax on global financial imbalances
In a speech at the Chatham House conference on Global Financial Imbalances given on 24 January Rachel Lomax of the Bank of England said large global economic imbalances increase the risk of financial market disruption, which could hurt economies.
G30 calls for more regulation of reinsurers
Coordinated international regulation of the reinsurance industry is needed despite the fact that the industry poses few risks to the financial system. This was the message of a report by the Group of 30 (G30) launched on Monday 23 January at the Bank of…