The new sterling ERI

Quarterly Bulletin 2004 Q4
Published on 17 December 2004

By Birone Lynch and Simon Whitaker of the Bank's Structural Economic Analysis Division. 

This article explains proposals for a new sterling trade-weighted effective exchange rate index. The existing index is based on trade patterns in manufactured goods in 1989-91. The proposed new index would reflect more recent trade patterns, incorporate services trade and a broader set of countries, including those in Asia. We are inviting comments on the proposed method with a view to publishing the new index on a regular basis from Spring 2005.

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