Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We examine evidence of systematic patterns in exchange rate movements on MPC days over the first decade of operation of the MPC. Daily data reveal significant differences in...

We characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. Our analysis is based on a unique data set of high-frequency futures returns for each of the markets. We find that news surprises produce conditional mean...

The focus of this report is the distribution of household income in the UK. We assess the changes to average incomes, income inequality and poverty that occurred in the latest year of data (2014-15), and put these in historical context using comparable data spanning the last 50 years. The...

The official statistics on the distribution of income and the extent of poverty in the UK in 2011-12 were released on Thursday 13 June 2013. Using the data underlying these statistics, this report analyses: •the changes in average incomes in the most recent year of data and the period since...