United Kingdom
FSA chief gets £109,000 pay boost
John Tiner, chief executive of the UK's Financial Services Authority, received a £109,752 rise in his total remuneration last year, according to the regulator.
BoE's Lomax on reasons for raising interest rates
In a speech given on 1 July, Rachel Lomax of the Bank of England said that "the UK emerged from the slowdown in the world economy with less slack than other economies. That is the key reason why we were the first to start raising interest rates".
QC ends BCCI address after record 79 days
The longest opening address in English legal history ended on Thursday 1 July with Gordon Pollock, QC, winding up the evidence that liquidators of the collapsed Bank of Credit and Commerce International are citing in the £850m damages suit versus the…
World should expect further rate rises says King
The world economy is set on a new trend of gradually higher interest rates, the governor of the Bank of England, Mervyn King, said in an interview published Thursday. He also said UK house prices had been "very important" in recent months in MPC meeting…
UK's King says MPC doesn't target house prices
The Bank of England's governor Mervyn King insisted on Tuesday 29 June that the interest rate-setting Monetary Policy Committee does not target house prices when it sets interest rates.
BoE's King on asset prices and oil price impact
In his opening statement to the Treasury Committee given on 24 June, Mervyn King of the Bank of England said, when asked if it was the case that the Bank had dropped its gradualist approach: "No ... I don't think we have," adding that in any case the BoE…
Bank of England Inflation Attitudes Survey, May 04
The Bank of England's May 2004 quarterly Inflation Attitudes Survey was published on 18 June. Asked about the future path of interest rates, 71% expected rates to rise in the next 12 months, up slightly from 69% in the February survey.
Bank of England Quarterly Bulletin, Summer 2004
The Bank of England released its Quarterly Bulletin Summer 2004, on 18 June. The Bulletin includes articles titled "Assessing the stability of narrow money demand in the United Kingdom," "Deriving a market-based measure of interest rate expectations," …
Bank of England - Annual Report 2004
The Bank of England has published its Annual Report for 2003/2004. The Bank spent more than £20m last year on defending itself against charges of "misfeasance in public office" relating to the collapse of the Bank of Credit and Commerce International,…
King on house price inflation in UK
In a speech given on 14 June Mervyn King of the Bank of England said the risk of a decline in UK house prices is increasing, despite the central bank's latest attempt to cool the housing market after raising interest rates four times since November. He…
Interview with Mervyn King
In an interview with Scotland's The Herald newspaper published 15 June, Mervyn King said that the Monetary Policy Committee was not in the business of trying to shock consumers or the market and would only do so when the situation had materially changed…
Bank of England raises interest rates to 4.5%
The Bank of England's Monetary Policy Committee voted to raise the Bank's repo rate by 0.25 percentage points on Thursday 10 June. The Bank said that inflationary pressures were likely to continue building.
BOE's Nickell sees further rate rises
Bank of England Monetary Policy Committee member Steve Nickell said in an interview with the Times newspaper that the bank's benchmark interest rate will need to rise further.
Bank of England MPC Minutes 5/6 May 04
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 19 May for the meeting of 5 and 6 May 2004. The minutes showed the MPC voted unanimously in favour of raising interest rates to 4.25% but also considered a half-point…
UK's Brown signals rate rise support
UK Chancellor of the Exchequer Gordon Brown said on Wednesday 19 May that he is concerned that rising wages and higher oil prices may lift inflation, and he signalled support for the Bank of England's decision to raise interest rates.
Bank of England Inflation Report, May 2004
The Bank of England published its May 2004 Inflation Report on 12 May. The report said inflation will accelerate above its 2 percent target by early 2006 and that the economy will expand quicker than it had forecast in February.
Forrest Capie to write next volume of BoE history
Forrest Capie, Professor of Economic History at the Cass Business School, has accepted an appointment to write the next volume of the Bank of England's official history.
Bank of England raises interest rates to 4.25%
The Bank of England's Monetary Policy Committee voted on Thursday 6 May to raise the Bank's repo rate by 0.25 percentage points. In a statement the MPC said although inflation was likely to remain below the 2% target in the near term inflationary…
BoE's Barker on asset prices
In a speech given on 28 April, Kate Barker of the Bank of England's MPC downplayed concerns about a possible housing-market crash and high levels of household debt, which the International Monetary Fund has called a main risk to the UK economy.
BoE's Bell hints at need for higher rates
A member of the Bank of England's nine-strong Monetary Policy Committee thinks interest rates need to rise, according to an interview. Continued above trend growth, she said, would likely impact on prices.
The new Bank of England quarterly model
The Bank issued an article entitled "The New Bank of England Quarterly Model" on 22 April, describing a new macroeconomic model used to help prepare the Monetary Policy Committee's Quarterly economic projections.
Lambert: Boring Bankers - Should we listen?
In the speech 'Boring Bankers - Should we listen?' given on 22, April Richard Lambert of the Bank of England discussed the importance of good communications to modern central banks.
Bank of England MPC Minutes 7/8 April
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 April for the meeting of 7 and 8 April 2004. Eight of the nine MPC members opted to keep interest rates unchanged with only deputy governor Andrew Large supporting a…
Bank of England's Bean reappointed to MPC
Charlie Bean, Executive Director for Monetary Policy and Chief Economist of the Bank of England, has been reappointed for a further three-year term as a member of the Monetary Policy Committee with effect from 1 June 2004.