United Kingdom
Article on Christopher Allsopp's speech
ARTICLE - The article 'Why deflation may yet destabilise the monetary policy regime' by Stephen King in the Independent newspaper on Monday looks at a recent speech by Bank of England MPC member Christopher Allsopp.
Speech by C Allsopp, Bank of England, 19 Sep
SPEECH - In the speech titled 'Macroeconomic Policy Rules in Theory and in Practice' Allsopp argued against using interest rates to burst asset price bubbles. "In my view, the most persuasive argument against using interest rates to moderate…
Scotland to be first to print its own euros?
UK - The Bank of Scotland chiefs are fronting a campaign, which aims to allow Scotland to become the first region in the European Union to print its own euros, if the pound is scrapped.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 4 and 5 September 2002. The MPC voted unanimously in favour of maintaining the repo rate at 4%. The Committee agreed that the world economy was on balance a little weaker than…
Bank of England unanimous on holding rates
UK - The Monetary Policy Committee voted unanimously to keep UK interest rates unchanged at their September meeting according to the latest minutes published on Wednesday by the Bank of England.
BIS head Crockett warns UK on euro rate
UK - Andrew Crockett, a strong candidate to become the next governor of the Bank of England, has cautioned that competitiveness could be hit if the UK joins the euro at too high an exchange rate.
Bank of England Working Paper
RESEARCH - Regulatory and 'economic' solvency standards for internationally active banks by Patricia Jackson, William Perraudin and Victoria Saporta, Bank of England. In this paper, light is shed on the solvency standards implied by current and possible…
Report says single currency boosts trade
UK - The creation of the euro has boosted trade between eurozone countries significantly, according to new research, reinforcing the argument that the single currency has created a more genuine single market in Europe.
Bank of England News Release
NEWS RELEASE - Bank of England Maintains Interest Rates at 4.0%, 5 September.
BoE keeps rates on hold
UK - The Bank of England left interest rates unchanged on Thursday, as widely expected, amid concerns over a weak economic recovery and continuing volatility in stock markets.
HM Treasury Press Release
PRESS RELEASE - Appointment of Bank of England Deputy Governor Financial Stability, 3 September. The Queen has been pleased to appoint, under the Bank of England Act 1998, Sir Andrew Large as Deputy Governor (Financial Stability) of the Bank of England…
HM Treasury Press Release
PRESS RELEASE - Sir Andrew Large's biography, 3 September.
Bank of England names new Deputy Governor
UK - Weeks of speculation ended on Tuesday as the UK chancellor, Gordon Brown, named Sir Andrew Large, a former merchant banker and City regulator, as deputy governor of the Bank of England.
Politician attacks Bank of England indecision
UK - Michael Howard, shadow UK chancellor, on Thursday attacked the Treasury for failing to fill the post of deputy governor of the Bank of England, accusing the chancellor of incompetence.
Bank of England vacancy may breach constitution
UK - The Bank of England may be left in breach of the terms of its legal constitution if Gordon Brown, UK Chancellor, fails to appoint a replacement for David Clementi, the outgoing deputy governor, by the weekend, the FT reported on Thursday.
Bank of England News Release, 21 Aug
NEWS RELEASE - New Design £5 Banknotes. As announced on 14 August, the issue of the new Elizabeth Fry £5 banknote restarts on 21 August. This follows suspension of issuance on 27 May after it was discovered that on some notes it was possible to remove…
New Bank of England £5 notes reissued
UK - The Bank of England is to restart distribution of the new £5 notes. The notes have already been delivered to banks and post offices, and from Wednesday morning are being made available to the public.
CLS bank waits on Fed approval for FX settlement
UK - Settlement bank CLS, aiming to provide a global system to cut risk in settling currency deals, hopes for regulatory approval next month for a full commercial start in the last quarter of this year, Reuters reports a spokesman as saying.
Fears over delay to naming Clementi successor
UK - The UK government may delay the announcement of a new deputy governor at the Bank of England.
Can Basel II be made to work?
ARTICLE - Latest developments in the progress of the Basel II Capital Accord have raised concerns by both US and European parties that its complexity will lead to unequal treatment. The Banker magazine, in its August 2002 edition, examines the issue and…
FSA open secret anti-terrorist bunker in London
UK - The UK financial watchdog has opened an emergency headquarters to keep the financial heart of the capital beating in case of a major terrorist attack on London.
Bank of England News Release
NEWS RELEASE - Bank of England £5 Banknotes, 14 August.
Bank of England Monetary Policy Committee Minutes
MINUTES - Minutes of the Bank of England's Monetary Policy Committee Meeting, 31 July and 1 August 2002. The minutes showed members of the Bank of England unanimously voted to leave interest rates on hold at the 31 July-1 August meeting. The members…
MPC voted unanimously to hold UK rates
UK - The Bank of England's Monetary Policy Committee discussed the case for a cut in interest rates at its August meeting, according to the minutes of its meeting published on Wednesday.