United Kingdom
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…
Britain's fiscal rule is more leaden than golden
Lectures to Britain from the European Union on fiscal discipline are hypocritical and pointless, according to this article published on Monday 16 January. However, the UK government's "golden rule" has masked an escalating deficit on state spending that…
BoE's King on the UK economy
In a speech given on 16 January Mervyn King of the Bank of England said the fall in long-term interest rates was one of the three key "signposts" for central banks - the others being the fall in manufactured goods prices and the surge in oil costs.
Lord Woolf chairs Financial Markets Law Committee
The Bank of England announced on Tuesday 20 December the appointment of Lord Woolf as Chairman of the Financial Markets Law Committee (FMLC), beginning 1 February 2006.
Bank of England voted 8-1 to hold rates
Bank of England Monetary Policy Committee members voted 8- 1 to keep interest rates unchanged this month, the first split vote since August, minutes released on Wednesday 21 December showed.
Why I decided to vote against the governor: Bean
In this article published on Sunday 18 December, Bank of England Chief Economist and MPC member Charlie Bean said that he has no regrets about voting against the governor to cut interest rates and says that we may not have to wait until spring for the…
Bank of England Inflation Attitudes Survey, Nov 05
The Bank of England published its November 2005 Inflation Attitudes Survey on Monday. When asked about the future path of interest rates, 46% expected rates to rise in the next 12 months, compared with 34% in August and 52% in May.
Bank of England Financial Stability Review, Dec 05
The Bank of England published its latest Financial Stability Review for December 2005 on Friday 16 December. Near-term risks to the UK financial sector from default by households, firms and overseas borrowers seem limited, and conditions in international…
Bell calls Bank of England forecasts 'ambitious'
Former Bank of England Monetary Policy Committee member Marian Bell said in an interview that the central bank's forecasts for economic growth are "ambitious" and that if she was still on the MPC she would consider cutting rates.
Central bankers are not magicians says BoE's King
Bank of England governor Mervyn King said in an interview with a Swedish newspaper published on Wednesday 14 December that central bankers cannot do magic tricks and politicians shouldn't make comments about the monetary policy of independent central…
Bank of England Quarterly Bulletin, Winter 2005
The Bank of England released its Quarterly Bulletin for Winter 2005 on Monday 12 December. The latest Bulletin includes the article "Do financial markets react to Bank of England communication?".
Bank of England defends communication
A study published by the Bank of England on its communications on Monday 12 December that financial markets show the strongest reaction to minutes of its MPC policy meetings and the quarterly Inflation Report.
Interview with Bank of England's Walton
Speaking in an interview published on Wednesday 30 November, the most recent member of the Bank of England's Monetary Policy Committee, David Walton, said the Bank of England should not rush to move interest rates until it has a clearer idea of whether…
BoE's Large on monetary policy
In the speech 'Monetary policy: Significant issues of today' given on 1 December Andrew Large of the Bank of England said wage pressures in the UK could still get stoked up by the rapid rise in the price of oil even though there is currently very little…