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- Title
Markets and operations.
- Abstract
This article presents information on developments in sterling financial markets, Great Britain's market structure and the Bank of England's official operations. Sterling short-term market interest rates fell over the period accompanied by weaker Great Britain's equity prices and a small depreciation in the sterling effective exchange rate. This pattern of asset price movements seemed to reflect both international influences and market participants perceiving a slightly weaker domestic outlook. Activity data for British economy have been weaker than the market expected. In particular, the slowdown in consumer spending over recent months may have led market participants to give more weight to the downside risks to growth through the rest of the year, although Consensus surveys of economists' forecasts did not show any significant downward revision to average expectations for British GDP growth in 2005.
- Subjects
UNITED Kingdom; ECONOMIC conditions in Great Britain; POUND sterling; FINANCIAL markets; MONETARY policy; FOREIGN exchange rates; INTEREST rates; COST allocation; GROSS domestic product
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 2, p127
- ISSN
0005-5166
- Publication type
Article