United Kingdom
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…
BoE's Walton sees no rush for rate move
David Walton, the newest member of the Bank of England's Monetary Policy Committee, told the Times that inflation could easily remain above the Bank's 2 percent target for some months while economic growth seemed to have recovered somewhat.
UK to make statistics office independent
UK Chancellor of the Exchequer Gordon Brown said Monday 28 November that the Treasury intends to make the Office for National Statistics independent from the government.
BoE's Large on liquidity risk in a global system
In the speech 'Financial Stability: Managing liquidity risk in a global system' given on 28 November Andrew Large of the Bank of England put the case for central banks and regulators in all jurisdictions to review the appropriateness of current liquidity…
Brown's gold sale losses pile up as price surges
According to this article published on Monday 28 November, the recent increase in the price of gold should be something of an embarrassment for UK Chancellor Gordon Brown with the Bank of England offloading 300 tonnes of gold at close to a 20-year low…
UK's Brown says India, China to attend G7 meeting
China, India, Brazil and South Africa will attend part of the G7 finance ministers meeting this week, British finance minister Gordon Brown said on Monday 28 November.
BoE's Barker on economic stability
In the speech 'Economic stability and the business climate' given on 24 November Kate Barker of the Bank of England said risks to the nation's economic growth are to the downside but the recent rise in inflation could still push up price expectations in…
Bank of England's Lomax: 'dollar looks a good buy'
Bank of England deputy governor Rachel Lomax said on Thursday 24 November that the "dollar looks a good buy" because of interest rate differentials and other factors.
Comment: Central banks "shouldn't supervise"
In a speech on Thursday, Howard Davies, who served for two years as deputy governor of the Bank of England and as special adviser to the chancellor of the exchequer, and who is currently director of the London School of Economics, argued that a…
Mervyn the weatherman
Does Mervyn King prefer isobars to interest rates? In an appearance before the Treasury Committee on Thursday 24 November, the governor of the Bank of England revealed his interest in one of the few professions which can compete with economists on the…
BoE's Nickell sees UK interest rate freeze
The prospect of interest rates in the UK remaining unchanged over the coming months increased when a leading Bank of England official was quoted as saying no further changes are required.
Bank of England voted 9-0 to hold rates
The Bank of England's Monetary Policy Committee voted unanimously for a third month in November to keep the benchmark interest rate unchanged, according to minutes released on Wednesday 23 November.