The Operational Role of the Bank of England (1985)

C. A. E. Goodhart
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C. A. E. Goodhart: London School of Economics

Chapter 12 in The Central Bank and the Financial System, 1995, pp 240-248 from Palgrave Macmillan

Abstract: Abstract Every morning at 11 o’clock in the Bank, senior officials meet with the Governor. By long tradition, the meeting opens with reports on conditions in the three major markets in which the Bank operates: the money market, the gilt market, and the foreign exchange market. Of course, nowadays information on current developments in such markets can be, and is, disseminated electronically, but the meeting provides opportunity to give supplementary information, for example on the underlying strength of market movements and their perceived causes, and to discuss future contingency plans. The precedence given to the reports of the market operators does, however, effectively symbolise the central importance in the Bank’s activities of its role as market operator for the Government in these crucial financial markets.

Keywords: Interest Rate; Monetary Policy; Cash Flow; Central Banking; Money Market (search for similar items in EconPapers)
Date: 1995
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-37915-2_12

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DOI: 10.1057/9780230379152_12

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