Distant thunder

Article Abstract:

There are indications of an economic slowdown in the United Kingdom and there have been criticisms of the government for the high value of pound sterling and interest rate levels. Meanwhile, employment is rising and unemployment is falling. The Bank of England has received much of the criticism, but has cut interest rates and may do this again. This may mean that the government is criticized more and the bank is criticized less. The government's targets for fiscal restraint may be more difficult to meet if unemployment rises.

Economic Programs, Administration of Economic Programs, United Kingdom, Bank of England

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Not cut and dried

Article Abstract:

The European Central Bank (ECB) will be geared to an inflation target of under 2%, and a money supply target is unlikely since monetary union will make this a less effective measure. Nominal growth of gross domestic product is another possible target, and, with nominal growth at between 3% and 7% for 1999, interest rates could be reduced. Wages and inflation could be used to guide policy, and this may mean no cuts in interest rates, while the estimated output gap means that rates could be cut.

Western Europe, Monetary unions, European Union. European Central Bank

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Coming out of denial

Article Abstract:

The policies of the bank of Japan, and developments in the Japanese economy are examined in detail.

Economic aspects, Japan, Bank of Japan

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