United Kingdom
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…
Court told BoE broke rules over BCCI
It was alleged in the High Court in London on Wednesday 4 February that the Bank of England broke banking regulations in two areas when it licensed the now collapsed Bank of Credit and Commerce International.
Court told Bank knew BCCI's 'dubious reputation'
The High Court in London was told on Monday 2 February that the Bank of England was aware that the collapsed Bank of Credit and Commerce International had an "appalling reputation" and that other banks "wouldn't touch BCCI with a barge-pole" before…
BoE's Tucker on risk uncertainty
In a speech on 'Risk Uncertainty and Monetary Policy Regimes' given on 29 January, Paul Tucker of the Bank of England explores how option prices can shed light on the risks in the current financial environment, including uncertainty about the expected…
BoE's King at the Panel on EU/US Cooperation
In opening remarks to the Panel on EU/US Cooperation given on 26 January, Mervyn King of the Bank of England asks why the gap in the level of productivity between the US and the UK is so persistent, and what are the obstacles that prevent the gap from…
Bank officials named in BCCI court case
Peter Cooke, former head of the Bank of England's supervisory department, and two other senior staff, were identified on Monday 26 January as officials alleged to have lied or misled the inquiry into the collapse of BCCI.
Bank of England calls claims over BCCI "desperate"
The Bank of England accused the Bank of Credit and Commerce International's liquidators of desperation and paranoia on Monday.
King on the ball as usual
Mervyn King paid a visit on Tuesday 20 January to Villa Park, home of his beloved Aston Villa football club, telling a business lunch he had always wanted to perform at Villa Park and now was his chance.
BoE's King on the UK's new inflation measure
In a speech given on 20 January, Mervyn King of the Bank of England said reinforced expectations of higher borrowing costs in the UK, saying that the BoE's new inflation target would not mean looser policy than otherwise would have been.
Bank of England MPC Minutes 7/8 January
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 21 January for the meeting of 7 and 8 January 2004. Sir Andrew Large was the sole dissenter on the MPC for the second month in a row, voting for a quarter-point rate rise.
OECD report UK 'well placed' for economic recovery
The OECD said on Tuesday 20 January that Britain is "well placed" to benefit from the current global economic recovery, but a tight grip must be kept on public finances to avoid a rising deficit.
Central banks in 2004
Following years of growth the number of central banks, and the number of staff they employ now looks set to fall, according to research carried out for the 2004 edition of Central Banking Publications' Central Bank Directory.
BoE's Fisher on E-Commerce and the FX Market
In a speech on 'E-Commerce and the FX Market - Have the Promises Been Met?' given on 19 January, Paul Fisher of the Bank of England said CLS provides a major milestone in risk reduction in the foreign exchange market, this initiative is fast becoming a…
Billie Jean, or is it Mervyn King?
The surname King will forever be remembered by tennis fans - but Bank of England governor Mervyn King is also a player we hear, as well as a darts fan.
Bank of England faces criticism in BCCI case
The billion-pound law suit against the Bank of England over its part in the world's biggest banking fraud began on Tuesday 13 January with criticism of the 300-year-old central bank.
Bank of England court case set to begin
The Bank of England will go to court for the first time in its 300-year history on Tuesday 13 January when it defends its role in the £10bn collapse of the Bank of Credit & Commerce International.