United Kingdom
Nickell on house prices and household debt
SPEECH - In the speech 'House Prices, Household Debt and Monetary Policy' Stephen Nickell of the Bank of England said an interest rate reduction at present would affect house prices, household borrowing and consumption, which are already increasing…
Bank of England Inflation Attitudes Survey, Nov 02
REPORT - The Bank of England's November 2002 quarterly Inflation Attitudes Survey was published on 16 December. The survey measures public attitudes to inflation in the UK. The latest survey shows 56% of respondents think the 2.5% inflation target is…
Bank of England Press Release
PRESS RELEASE - Sale of Bank of England Banknote Printing Operations, 17 December.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting released on 18 December for the meeting of 4 and 5 December 2002. The nine MPC members voted on a proposal to maintain the repo rate at 4.0%. Seven voted in favour of this with…
UK inflation rate hits four-year high of 2.8%
UK inflation jumped in November to its highest level in more than four years. In its recent inflation report the Bank of England said that the rate was likely to rise in the short term but fall back towards the 2.5 per cent target at the end of 2003.
CentralBankNet Monday Special Feature
SPECIAL FEATURE - Mervyn King's appointment as governor of the Bank of England isn't the only change in leadership we have to report. Last week saw three new recruits ushered in to the top spots at the central banks of Brazil, Argentina and the Cleveland…
Bank of England Quarterly Bulletin, Winter 2002
REPORT - The Bank of England released its Quarterly Bulletin, Winter 2002, on 16 December. In the report the Bank warned that increased debt levels among British consumers could lead to a problem if the economy turns sharply weaker. "Overall, changes in…
Howard's way needs to divide
ARTICLE - An article suggests it will be difficult to replace Sir Howard Davies as chairman of the FSA, and describes the UK regulatory authority as the most powerful regulator anywhere in the world.
Britain doing well without the euro
LETTER - A letter from the Director of the Centre for Policy Studies rejecting the idea that Britain must join the euro, asks if an improvement in Britain's wealth relative to her main European competitors may have something to do with Britains exclusion…
The high cost of resisting the euro
ARTICLE - In an article the chief economist of the pro euro lobby group, Britain in Europe, says Britain is paying a rising price for excluding itself from the euro.
Bank of England Financial Stability Review, Dec 02
REPORT - The Bank of England published its Financial Stability Review for December 2002, Issue 13, on 12 December. It contains the Bank's regular half-yearly assessment of risks to financial stability, together with a number of articles including " The…
Edward George at European Finance Convention
SPEECH - In a speech to the 16th European Finance Convention Edward George of the Bank of England welcomed the idea of the increasing evolution of the European Union, but with a more "gradual and incremental" approach to integration. He cautioned that…
Bank of England has doubts on eurozone convergence
With the appointment of a widely seen 'eurosceptic' as the new governor of the Bank of England, the current incumbent Sir Edward George has raised doubts about Britain's economic convergence with the eurozone but stressed the comments were based on …
Bell on six months on the MPC
SPEECH - In the speech 'Six Months on the MPC: A Reflection on Monetary Policy' Marian Bell of the Bank of England said Bell described the job of the MPC as a narrow and technical one limited to controlling changes in the overall price level. She said…
Nickell on the picture of european unemployment
SPEECH - In the speech 'A Picture of European Unemployment: Success and Failure' Stephen Nickell of the Bank of England said that although average unemployment in Europe is relatively high compared to OECD countries outside Europe, very high unemployment…
CentralBankNet Monday Special Feature
SPECIAL FEATURE - While economists appear to be increasingly concerned with the possibility of deflation, the hideous reflection of an old enemy, central bankers have been reassuring us that the chances of a Japan style downward spiral are highly…
BoE's Bell - UK house prices may pose problems
Bank of England Monetary Policy Committee member, Marian Bell cautioned on Monday that rising house prices may be a problem for interest rate policy for some time yet but said the MPC can not address sectoral differences without jeopardising the…
Why not a female Governor of the Bank of England?
ARTICLE - An interesting article looks at women in central banks and why so few make it to the top position. The article suggests central bankers like the power of knowing things which they can keep from the public but that women don't like playing that…
Bank of England Maintains Interest Rates at 4.0%
The Bank of England held rates steady on Thursday after warning of a sharp correction in UK house prices, risks to inflation and minutes from the last meeting showed the MPC moving further away from an easing bias.
Practical Issues Arising from the Euro
REPORT - The Bank of England has published the latest in its twice yearly series 'Practical Issues Arising from the Euro' for November 2002. Part 1 reports on the UK's performance as a euro financial centre since the launch of the euro at the beginning…
Financial Times comments on Central Banking
CentralBankNet was delighted to read that the Financial Times on Monday called our quarterly Central Banking journal the "must-read bible" of the worlds central bankers.
CentralBankNet Monday Special Feature
Mervyn King will be the next governor of the Bank of England, it was revealed this week. With Sir Edward George in the post until June next year it is expected that the changeover will be smooth. But along with headlines announcing the arrival of the…
Heading for a collision over the euro
ARTICLE - The article suggests that it would be 'extraordinary' were the UK Treasury to recommend entry to the euro after the signals they have sent out since the last general election.
Report hints UK Treasury to reject 2003 euro entry
Gordon Brown has warned of the dangers of Britain accepting "rigid rules" to govern the economy, a move observers say further indicates the Treasury's intention to reject entry to the euro next year.