United Kingdom

U.K. Euro Decision: Assessment and Analysis Guide

A report published on Monday 9 June by Bloomberg News provides a concise guide to the UK decision on the euro. It lists the five tests and the 18 separate studies used in the decision process as to whether to call a referendum on adopting the euro in the…

UK 'should join euro' when economics are right

The UK chancellor Gordon Brown confirmed on Monday 9 June that only one of the five economic tests had been passed for Britain's entry to the euro. He also set out measures that would increase economic convergence between the UK and eurozone saying he…

CentralBankNet Monday Special Feature

CentralBankNet looks into the Bank of England's forthcoming trial over its regulation of the now-liquidated Bank of Credit and Commerce International and finds the implications of a loss in court disturbing.

The role of asset prices in shock transmission

The Bank of England Working Paper entitled 'The role of asset prices in transmitting monetary and other shocks' constructs a framework within which the ability of asset prices to convey information about the underlying shocks hitting the economy can be…

Secrets of a soon to be missed central banker

Speaking on Tuesday 20 May, UK chancellor Gordon Brown spoke in glowing terms of Sir Edward George, the soon to depart governor of the Bank of England. "I will miss Eddie" he said, and went on to reveal a few central banking secrets, including the case…

Britain misses its euro connection

An article in the Financial Times says that it shouldn't be forgotten that the decision over whether Britain joins the euro is a political rather than an economic one. Both Gordon Brown and Tony Blair, the authors argue, are guilty of dressing the…

Bank of England MPC Minutes 7/8 May 2003

Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 May for the meeting of 7 and 8 May 2003. The minutes showed that Christopher Allsopp, Kate Barker, Marian Bell and Stephen Nickell voted for a 25 basis point rate cut…

Bank of England voted 5-4 to hold rates

Policy makers at the Bank of England voted by a narrow five to four margin to keep its lending rate unchanged at 3.75pc earlier this month, BizWorld reports. The four MPC members calling for a rate cut were all external members of the Committee.

Bank of England - Annual Report 2003

The Bank of England has published its Annual Report for the year 2003. In his last foreword to the annual report, governor Eddie George said the Bank did not appreciate fully the extent and speed of the changes it was about to experience - changes which…

UK inflation stays at highest level in five years

The Office for National Statistics said on Wednesday 21 May the underlying annual inflation rate in the UK - the measure targeted by the Bank of England - was 3 per cent in April, unchanged from the previous month, reports the Financial Times

BoE Inflation Report, May: :world economy sluggish

The Bank of England published its quarterly Inflation Report for May 2003 on Thursday May 15. In the report the Bank said the recovery in the world economy has been sluggish. The conflict in Iraq was associated with a sharp deterioration in economic…

UK to announce euro entry decision on 9 June

The announcement over whether the UK has passed the five euro entry tests will be made on 9 June, according to the Financial Times and other newspapers. In what some reports called a dramatic announcement there will now be a decision-making process…

Upbeat on the UK, downbeat on Europe

Unveiling the Bank of England's May 2003 Inflation Report on Thursday, Mervyn King was upbeat about prospects for UK economic growth and inflation. The Bank predicts that growth will pick up to trend and inflation will fall to remain close to its target…

UK think-tank urges 'stay out of the euro'

An influential think-tank published a report on Thursday 15 May saying that Britain should stay out of the euro as the policies of the European Central Bank and the inadequacies of the stability and growth pact present a real barrier to UK entry,…

Brown reaffirms euro test results date

Gordon Brown on Tuesday 13 May repeated that the result of its five economic tests on whether Britain should join the euro would be announced by the first week of June, according to a report by Business & Finance

Bank of England Inflation report accolade

The Bank of England gets top marks for best inflation report, 13 May. All inflation targeting central banks produce Inflation Reports. But what makes a good report? Central banks' writing and reporting skills are assessed in a new report.

Bank of England is top of the targetters

The Bank of England has the best inflation report, (the document all inflation-targetting central banks publish), a study entitled "How do central banks write?", out Tuesday claims. CentralBankNet reports from the press conference in London.

New splits over UK euro entry decision

On Sunday 11 May splits emerged over the euro, reports the Financial Times. UK cabinet ministers are sending different signals about whether euro entry is inevitable at some future point and the timing of a referendum.

UK Treasury rejects MPC transparency call

The UK Treasury has rejected calls for its selection procedure to the Bank of England's interest rate setting MPC to be more open saying that the appointment process should remain confidential for reasons of market sensitivity.

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