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The Operational Role of the Bank of England (1985)

In: The Central Bank and the Financial System

Author

Listed:
  • C. A. E. Goodhart

    (London School of Economics)

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.

Suggested Citation

  • C. A. E. Goodhart, 1995. "The Operational Role of the Bank of England (1985)," Palgrave Macmillan Books, in: The Central Bank and the Financial System, chapter 12, pages 240-248, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37915-2_12
    DOI: 10.1057/9780230379152_12
    as

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