Quarterly Bulletin
August 1996 Contents

The operation of monetary policy (92k)
Box on the latest developments in the gilt repo market

The international environment (64k)
Box on consumer indebtedness in the United States
Box on eastern Germany six years on

Financial market developments (109k)
Box on seasonality in international bond, syndicated credit and equity markets
Box on developments in international banking in 1995
Box on the alternative investment market

Simple monetary policy rules (51k)

The industrial impact of monetary policy (81k)

Probability distributions of future asset prices implied by option prices (233k)

Expected interest rate convergence (22k)

Payment and settlement strategy (13k)

Practical issues arising from the single currency (30k)

Economic growth and employment through stability (183k)
Lecture by the Governor at the University of Exeter on 23 May

EMU - a British perspective (24k)
Lecture given by the Governor at the Bocconi University in a series organised by the Paolo Baffi Centre for Monetary and Financial Economics on 14 May

The economics of equal opportunity (18k)
Speech given by the Deputy Governor at the Equal Opportunities Commission Conference on the Economics of Equal Opportunities on 20 May

Gilt repo - and beyond (164k)
Speech given by Ian Plenderleith at the Annual Open Gilt Repo Market Conference on 12 June