United Kingdom
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,…
Is Europe already experiencing deflation?
An article in the Financial Times asks whether the threat of deflation is likely and suggests it may already be here and that, given the example of Japan, it may be that nothing can be done about it.
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.
Bank of England Maintains Interest Rates at 3.75%
The Bank of England's Monetary Policy Committee on Thursday voted to maintain the Bank's repo rate at 3.75%.
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.
Blair's euro ambitions in danger
A article in the Financial Times suggests that Tony Blair's euro ambitions are in danger from the five economic tests and the latitude given to the chancellor of the exchequer by the prime minister.
Interview with Bank of England's Sir Andrew Large
In an interview with the Financial Times, Bank of England deputy governor for Financial Stability Sir Andrew Large raised speculation that the Bank's MPC might reduce interest rates at its meeting next week after flagging up concerns about the weakness…
Bank of England to appoint five new Court members
The Court of the Bank of England is currently interviewing candidates for five non-executive places, notes the Guardian, which describes it as a "shadowy organisation".
Bank of England to withdraw Dickens £10 note
The Bank of England on Tuesday april 29 announced that it is to withdraw from circulation the older style £10 notes featuring a portrait of Charles Dickens.
UK must not waver in its euro tests
Anarticle in the Financial Times by Martin Wolf says for the UK government to win a referendum on the euro it must persuade the public of the economic benefits and be seen to approach the question with an open mind.
Capital flows to emerging markets
A recent Working Paper from the Bank of England 'Capital flows to emerging markets' extends a model previously developed by Barro et al. The paper looks at the optimal rate at which capital should flow to emerging market economies. It suggests optimal…
ECB voting change could hinder UK euro entry
The UK's treasury select committee said on Monday April 28 in a report that the ECB's proposed change in voting arrangements could pose an "obstacle to entry" for Britain and the euro, according to the Financial Times.
Bank of England condemns rise of red tape
In a report published on Thursday 24 April the Bank of England criticised proposed changes to the Consumer Credit Act saying it could lead to more complex regulation and limit competition, according to the Daily Telegraph.
Blair to rule out early referendum on euro
A report in the Financial Times says a deal has been reached between the UK chancellor Gordon Brown and the prime minister Tony Blair on the issue of a referendum on the euro.
Bank of England MPC Minutes 9/10 April 03
Minutes of the Bank of England's Monetary Policy Committee Meeting were released on 23 April for the meeting of 9 and 10 April 2003. The minutes show that MPC members voted 7-2 in favour of maintaining interest rates at their current levels. Christopher…
Bank of England minutes show 2 votes for rate cut
Minutes of the Bank of England's April meeting show two members of the MPC voted for interest rate cuts and the committee signalling next month's meeting could be crucial for the direction of interest rates, as members would have various new data…
UK tests for joining the euro
An article in the Financial Times suggests the UK government's assessment of whether the economic tests for membership of the euro have been passed will be important, even though it is widely expected that the tests will not have been passed. The…
UK ministers may fight Brown on euro vote
According to the Financial Times, a member of Tony Blair's cabinet has indicated his determination to oppose any attempt by the chancellor to rule out a referendum on the euro by saying publicly the pound had fallen to levels that would make British…
Bank of England holds interest rates steady
As most analysts predicted, the Bank of England held interest rates steady at 3.75 on Thursday 10 April amid continuing uncertainty, reports the Financial Times.