United Kingdom
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.
Bank of England leaves rates unchanged
The Bank of England made no statement to explain its thinking after its MPC meeting on Thursday 8 April left interest rates unchanged at 4%. Much speculation preceded the meeting with many analysts predicting a rate increase.
Kate Barker reappointed to MPC
The UK Chancellor Gordon Brown announced the reappointment of Kate Barker to the Bank of England's Monetary Policy Committee (MPC) on Friday 2 April for a second term of three years.
BoE's s Barker: no need to raise rates
A high inflation forecast does not mean the Bank of England has to raise rates, a member of its rate-setting monetary policy committee told a Scottish newspaper, as figures released today showed the UK housing boom continuing apace.
Bank of England's Nickell sees rapidly rising debt
Bank of England Monetary Policy Committee member Stephen Nickell said on Monday 29 March that most UK borrowers can afford the burden of "rapidly" growing mortgage debt, signalling it may see room for higher interest rates.
BoE's Nickell on European unemployment
In a speech 'A Picture of European Unemployment: Success and Failure' given on 26 March, Stephen Nickell of the Bank of England said average unemployment in Europe today is relatively high compared with OECD countries outside Europe. The majority of…
Bank of England's finest audition as press
Unusual scenes at the UK parlaiment's Treasury select committee Thursday when more women than men turned out for the Bank of England's team for the first time.
Mervyn King's Statement to UK Treasury Committee
Bank of England Governor Mervyn King told the UK parliament's Treasury Select Committee on Thursday 25 March that he wants to update the trade-weighted sterling index and has been in talks about doing so.
Bank of England told to freeze HAMAS assets
The Bank of England, as agent for Her Majesty's Treasury, on Wednesday 24 March directed financial institutions that any funds which they hold for or on behalf of the individuals named below must be frozen.
BoE's Large on debt puzzles in today's economy
In ae speech on 'Puzzles in Today's Economy - The Build up of Household Debt' given on 23 March, Andrew Large of the Bank of England said a key economic debate of the day is whether we, as a society, should be concerned about the level of debt borne by…
Court hears Eddie George was misled over BCCI
The court case into the collapse of the BCCI in London heard this week that former Bank of England governor Eddie George was misled by a senior official at the Bank.
BoE's Tucker on financial markets dialogue
In a speech to the National Association of Pension Funds given on 19 March Paul Tucker of the Bank of England said that with interest rates at 4%, monetary policy is still "stimulating the economy". He comments, "If, as projected, output continues to…
Bank of England MPC Minutes 3/4 March
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 17 March for the meeting of 3 and 4 March 2004. All nine members of the MPC voted to keep interest rates steady earlier this month, but their arguments may suggest…
Former Bank of England chief calls on ECB to cut
Sir Edward George, the former Bank of England governor, called for the European Central Bank to cut interest rates to boost the economy in the 12-country region that uses the euro, according to a newspaper report.
Bank of England Inflation Attitudes Survey, Feb 04
The Bank of England's February 2004 quarterly Inflation Attitudes Survey was published on 15 March. Asked what would be best for the British economy on interest rates - 23% thought they should go up, the highest outturn since the series began. The…
Bank of England keeps rates on hold
The Bank of England left interest rates at 4 per cent on Thursday 4 March; economists speculated that the MPC wanted to see how households were adjusting to the higher cost of borrowing.
Bank of England told to release BCCI case files
The Bank of England lost an appeal on Monday 1 March to keep sensitive internal documents under wraps in a lawsuit seeking almost £1 billion ($2.7 billion) over its role in the world's biggest banking fraud.
BoE's Lomax on Inflation Targeting
In a speech on 'Inflation Targeting - Achievement and Challenges' given on 18 February, Rachel Lomax of the Bank of England discussed the improvement in economic performance since the adoption of inflation targets and the challenges that policy makers…
Bank of England MPC Minutes 4/5 February
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 18 February for the meeting of 4 and 5 February 2004. In a rare move, the MPC voted unanimously to raise interest rates by a quarter point.
Court told 'Treasury in the dark' over BCCI affair
The High Court in London heard on Monday 16 February that the Bank of England allegedly deliberately withheld information about the state of BCCI from the Treasury because it was concerned that the government department would force the bank's closure.
Speculation on Barker's replacement at BoE
Kate Barker's term on the Bank of England's Monetary Policy Committee is due to end in May. While she could be reappointed, a few names have been aired as potential successors.
Music fit for a King
We hear that Mervyn King prepared himself for the cut and thrust of the Bank of England's recent MPC meeting with an evening in London's Royal Festival Hall, listening to Shostakovich's fifth symphony.
Bank of England Inflation Report, February 2004
In its latest Inflation Report, the Bank of England revised upwards its growth forecast over the next two years, saying the risks to the overall outlook were broadly even. Mervyn King told a news conference that inflation was expected to rise steadily to…
Bank of England raises rates to 4%
The Bank of England's Monetary Policy Committee voted on Thursday 5 February to raise the Bank's repo rate by 0.25 percentage points. In a statement the MPC highlighted the 'more broadly based' world economic recovery but judged the change was need to…