Monetary policy
Paper: MPC inflation targeting and decision making
This paper published June 2005 considers decision making in the Bank of England's MPC. It finds there are identifiable forms of heterogeneity among members of the committee that improves the predictability of interest rate changes.
Bank of England MPC Minutes, 8 & 9 June
The minutes from the 8 and 9 June meeting of the Bank of England's Monetary Policy Committee published on Wednesday 22 June showed policy makers voted 7- 2 to keep interest rates unchanged this month, with Charles Bean and Marian Bell preferring a 0.25%…
BoE's Nickell says spare capacity in UK lower
Bank of England Monetary Policy Committee member Stephen Nickell said on Tuesday 31 May that the UK Treasury is probably overestimating the amount of spare capacity in the economy.
Bell to leave Bank of England's MPC
The UK Chancellor, Gordon Brown, on Thursday 26 May announced the appointment of David Walton to the Bank of England's Monetary Policy Committee (MPC) to succeed Marian Bell. The appointment will take effect on 1 July.
BoE's Tucker reappointed to MPC
Paul Tucker, Executive Director for Markets at the Bank of England, has been reappointed for a further three-year term as a member of the Monetary Policy Committee with effect from 1 June 2005.
BoE's Bell on communicating monetary policy
In a speech on 'Communicating monetary policy in practice' given on 17 May, Marian Bell of the Bank of England said that in her experience the MPC is straightforward in its communications. The MPC doesn't spin, nor is it disingenuous.
Bank of England MPC Minutes, 6 & 7 April
The minutes from the 6 & 7 April meeting of the Bank of England's Monetary Policy Committee published on Wednesday 20 April showed policy makers voted 7- 2 to keep interest rates unchanged this month, the same split as in March, with the majority saying…
Bank of Korea to publish rate discussions
The Bank of Korea (BOK) said on Friday 15 April that it intends to put details of what has been discussed at the seven-member Momentary Policy Committee on its website.
Bank of England MPC Minutes, 9 &10 March
The minutes from the 9 &10 March meeting of the Bank of England's Monetary Policy Committee published on Wednesday 23 March showed Paul Tucker voted for the second month in a row to raise interest rates, and was joined by deputy governor Andrew Large,…
Bank of England MPC Minutes, 9 &10 February
The minutes from the 9 &10 February meeting of the Bank of England's Monetary Policy Committee published on Wednesday 23 February showed eight members voted to hold interest rates unchanged, with Paul Tucker voting against, preferring a rise in the repo…
BoE's Barker says uncertainty prevented rate rise
Bank of England Monetary Policy Committee member Kate Barker was reported as saying in an interview that the uncertain short-term outlook for the UK economy prevented the nine-member MPC from raising interest rates in February.
Bank of Canada Monetary Policy Report Update
The Bank of Canada released its Update to the October Monetary Policy Report on 27 January. The Canadian economy is expected to operate a little further below its full production capacity in 2005, according to the update.
BoE paper on low inflation since 1999
In a paper published on Thursday 27 January, 'Why has inflation been so low since 1999?', Bank of England Monetary Policy Committee member Stephen Nickell said looking to the future, there seems no reason why UK domestic goods price inflation will fall…
When monetary tools start to lose their edge
This article asks what central bankers do when their monetary tools begin to lose their edge. This may be a question that the Federal Reserve is having to address at the moment, it says. The Federal Reserve's challenge seems to be that the linkage…
Bank of England MPC Minutes, 12 &13 January
The minutes from the 12 & 13 January meeting of the Bank of England's Monetary Policy Committee published on Wednesday 26 January showed the nine members voted unanimously to hold rates at 4.75 per cent.
The Reform of October '79: How it happened and why
This study in the Federal Reserve's Finance and Economics Discussion Series offers a historical review of the monetary policy reform of October 6, 1979, and discusses the influences behind it and its significance.
Bank of England MPC Minutes, 8&9 December
The minutes from the 8 & 9 December meeting of the Monetary Policy Committee of the Bank of England showed that members voted unanimously to leave the benchmark interest rate unchanged, with some policy makers raising the possibility of a rate cut.
BoE's Bean on the UK economy
In a speech given on 25 November, Charles Bean of the Bank of England said considerable uncertainties surround the UK economic outlook.
BoJ monetary policy meeting minutes12/13 October
The Bank of Japan released the minutes from its 12 and 13 October Monetary Policy meeting on 24 November. The minutes indicated that one member urged the central bank to get prepared to shift from the present monetary policy framework of quantitative…
Bank of England MPC Minutes, 3&4 November
The minutes from the 3 and 4 November meeting of the Monetary Policy Committee of the Bank of England were released on 17 November. The minutes showed that policymakers preparing their quarterly forecasts saw growth near trend and inflation on course to…
Macfarlane: Monetary Policy & Financial Stability
At a speech given in Melbourne, Reserve Bask of Australia governor, Ian Macfarlane highlights rising risks within the Australian home loan market.
SARB, Monetary Policy Review, Nov 2004
The South African Reserve Bank has published its Monetary Policy Review for November 2004. Inflation has remained within the target range for the past 13 months. This outcome was achieved through responsible monetary and fiscal policies, improved…
Bank of England MPC Minutes, 6&7 October
The minutes from the 6 and 7 October meeting of the Monetary Policy Committee of the Bank of England were released on 20 October. All nine MPC members voted to keep interest rates unchanged at 4.75 percent this month, while there seemed to be no…
BOJ's Sept. Monetary Policy Mtg Minutes
The Bank of Japan released the minutes from its 8 and 9 September Monetary Policy meeting on 18 October. The minutes showed that the bank was not greatly worried by a slowdown in export and industrial output growth, seeing it as due to temporary factors…