United Kingdom
UK inflation shows surprise fall
The UK inflation rate fell to 2.8% on Tuesday, moving closer towards the Bank of England's 2.5% target, according to Reuters. Most analysts had predicted an increase to 3.0%.
UK economy 'in uncharted territory'
Giving evidence before the UK parliament's treasury select committee on Tuesday new Bank of England governor Mervyn King said he had "no idea" if 3.5 per cent was exactly the right level for UK interest rates. Rachel Lomax also appeared before the…
ECB's Duisenberg confirms 1 Nov retirement
At Thursday's ECB news conference Wim Duisenberg confirmed that he expects to hand over to Bank of France governor Jean-Claude Trichet on 1 November. Duisenberg said that he saw no risk that he will be regarded as a "lame duck" president during the…
Bank of England statement on rate cut decision
The Bank of England's Monetary Policy Committee today voted to reduce the Bank's repo rate by 0.25% to 3.50%, 10 July. In its press release the Bank said the global economic recovery remained hesitant and the cut was needed to keep inflation on track to…
UK interest rates cut by a quarter point
The Bank of England cut interest rates by a quarter point to 3.5 per cent on Thursday. The Bank said the fall in the value of the pound since the start of the year should help underpin growth, but pointed out that the decrease had been partly reversed in…
Special Exhibition at the Bank of England Museum
This week the Bank of England marks the 250th anniversary of the birth, in 1753, of its renowned architect Sir John Soane with the opening of a special commemorative exhibition in the Bank's Museum, 8 July.
Bank of England meets with King and Lomax in place
The Bank of England's interest rate setting MPC began their two day meeting Wednesday. It will be the first time Mervyn King sits on the Committee as governor and the first MPC meeting for Rachel Lomax who takes over from King as the new deputy governor…
King assumes his throne
The long-awaited moment has arrived: Mervyn King has moved into EddieGeorge's offices on Threadneedle Street, now that he has been baptised asgovernor of the Bank of England.
Crockett honoured
Andrew Crockett always did have one of those names that look as if it is just waiting to have a "sir" in front of it. Now the space has been duly filled as the former central banker and general manager of the BIS received a knighthood from the Queen of…
Central banker and football fan
Mervyn King, the new governor of the Bank of England is a well-known supporter of Aston Villa, the English football club. In fact, until recently King was senior vice-president of the club.
New Bank of England governor speaks of his pride
On the eve of taking over as Governor of the Bank of England, Mervyn King spoke to The Times about his personal approach to the role, filling the shoes of Sir Edward George and crucial issues facing the financial sector, including the prospect of…
UK failing to track dirty money
A new report, commissioned from KPMG by the UK government, reveals problems "inherent in all aspects" of efforts to track money laundering in the UK.
The Bank of England gets a respected new chief
Mervyn King began his 5-year term as governor of the Bank of England on 1 July. An article in BusinessWeek describes him as the brains behind the Bank's solid track record since 1997. He is viewed as both a formidable scholar and independent thinker.
Farewell Eddie
Sir Edward George retired from the Bank of England on Monday. An article in the Financial Times looks back at his time as governor which, it says, can be looked on a successful decade which will not see him move rapidly from Who's Who to Who's He?
Bank of England Financial Stability Review, Jun 03
The Bank of England published its latest Financial Stability Review for June 2003 on Thursday 26 June. It contains the Bank's regular half-yearly review of risks to financial stability and measures taken to strengthen the financial infrastructure,…
BofE's George shrugs off fears of deflation
In an appearance before the Treasury select committee on Tuesday outgoing governor of the Bank of England Edward George said there was an "extremely" low risk of deflation in the UK and the US, acording to the Independent newspaper. He described the risk…
Wisdom, wit and gaffes from Sir Edward George
As the governor of the Bank of England prepares to leave the Old Lady an article in the Independent guides you, in its words, "through some of Sir Edward's "thoughts" and some other thoughts about Sir Edward, renowned central banker, after-dinner speaker…
Constitution could mean veto loss over ECB changes
The new draft European constitution could mean European member states would no longer have a veto over adjustments to the workings of the ECB, according to the Financial Times. The UK Treasury and the Foreign Office both said they would campaign for…
Bank of England Quarterly Bulletin, Summer 2003
The Bank of England released its Quarterly Bulletin, Summer 2003, on 20 June. The Bulletin includes articles entitled 'What caused the rise in the UK terms of trade?' and 'An analysis of the UK gold auctions 1999-2002'.
Bank of England Inflation Attitudes Survey, May 03
The Bank of England's May 2003 quarterly Inflation Attitudes Survey was published on 20 June. Asked for their expectations of inflation over the coming year, respondents gave the same median answer as for perceptions of current inflation: 2.0%. This is…
BOE George, Mortgage change to help UK adopt euro
Speaking on Monday in an interview with BBC radio, the outgoing Bank of England governor Sir Edward George said he was optimistic the UK economy was entering a period of more balanced growth, and that the government should not raise taxes in the near…
The Eddie and Gordon show
Praise was liberally showered on Sir Edward George at his City swansong, the annual Lord Mayor's banquet for the square mile's great and good - Eddie's 27th in a row. Gordon Brown, Chancellor of the Exchequer, praised his integrity, steadfastness and…
Grilled Lambert
Richard Lambert was given a run for his money before Britain's Treasury Select Committee when prodded and poked over what on earth he was doing on the Bank of England's MPC (monetary policy committee) without an economics degree to his name.
Crockett honoured
Andrew Crockett always did have one of those names that look as if it is just waiting to have a "sir" in front of it. Now the space has been duly filled as the former central banker and general manager of the BIS received a knighthood from the Queen of…