News Release
Bank of England Quarterly Bulletin – Autumn 2005
26 September 2005
The Autumn issue of the Bank of England Quarterly Bulletin
is published today. It contains the following articles
and reports:
- Foreword, by Charles Bean, Chief Economist and
Executive Director of Monetary Policy, Bank of England. In
his Foreword, which is attached to this News Release, Mr Bean
provides a brief commentary on the Autumn issue of the Bulletin.
- Markets and operations. This regular quarterly
commentary discusses recent developments in financial markets,
market structure and the Bank’s balance sheet.
- Assessing the MPC's fan charts. This article looks
at the MPC’s forecasting performance, and asks whether
the fan charts have accurately represented the risks and probabilities
facing the Committee.
- Long-run evidence of money growth and inflation.
This article uses more than a hundred years of data to look
at the relationship between money growth and inflation in
the United Kingdom and United States.
- The determination of UK corporate capital gearing.
Corporate capital gearing is at high levels in the United
Kingdom. This article seeks to explain why, and draws on a
range of empirical evidence.
- Publication of narrow money data: the implications
of money market reform. The Bank’s money market reforms
due to be introduced in 2006 will have implications for the
publication of narrow money data.
Following the reforms, the Bank plans to discontinue publication of the M0 narrow money series, and instead publish separate series for notes and coin in circulation, and reserves of banks and building societies.
- Summaries of recent Bank of England working papers and speeches.
Note to Editors
Copies of the Quarterly Bulletin are available from
the Publications Group, Bank of England, Threadneedle Street,
EC2R 8AH (Tel: 020 7601 4030; fax 020 7601 3298) or from the
Quarterly
Bulletin pages.
