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Under pressure from the Bush administration, the Alan Greenspan-led Federal Reserve created massive amounts of fiat money. It financed the largest asset boom in history. In turn, this precipitated the recent deleveraging and...
We are in the midst of the worst economic crisis since the Great Depression. More than 27 million American workers are either unemployed, underemployed or have given up looking for work. The immediate cause of this economic...
In October UK inflation rose sharply with the Consumer Price Index up 1.5pc annually compared with 1.1pc the month before. Most prominent British economists say this is a "blip" and that "deflation" remains the most serious...
By Chris Giles and Daniel Pimlott The financial crisis "might plausibly have been less costly for the real economy" if authorities had had an effective way of damping the credit boom, the Bank of England concludes today in a...
The word “nutter” and Bank of England are only occasionally used in the same sentence. It was used soon after Bank independence in 1997 when Diane Abbott, the Labour MP, accused the governor, then Eddie George, of being an...
With no signs of green shoots, Mervyn King is right to be downbeat - whatever the Queen said So: the government has a fiscal plan, confirmed by the Queen, under which it will halve the budget deficit in four years and eliminate...
Published Date: 22 November 2009 ADOUBLE whammy of rising prices and higher taxes is facing everyone in the UK. As measured by the Consumer Prices Index, which excludes all housing costs, and is the government's preferred...
By Christina Fincher LONDON (Reuters) - Regulators need more tools to prevent the build-up of risks in the financial system but it would be unrealistic to think all asset bubbles can be prevented, according to a Bank of England...
Definition: This was an important paper published by the Bank of England in 1971. It set out new monetary control arrangements. A system of reserve requirements was implemented and there was an end to collusion by banks on...
Former Bank of England Governor Eddie George, who died in April aged 70 after a lengthy battle with cancer, left £887,593 in his will. Lord George, who earned the nickname Steady Eddie during his long career at the Bank, became...
