Markets and Operations Summer 2003

15 Pages Posted: 27 Apr 2005

Abstract

This article reviews developments since the Spring Quarterly Bulletin in sterling and global financial markets, UK market structure and the Bank's official operations.

Uncertainty in financial markets relating to the war in Iraq passed.

Forward interest rates declined globally.

Equity indices rose, perhaps on reduced uncertainty and lowered perceptions of corporate risk.

The dollar and, to a lesser extent, sterling continued to depreciate against the euro.

Work continues to allow settlement of money market instruments in the CREST system and procedures have been announced for their migration into CREST from September 2003.

Suggested Citation

Wells, Simon J., Markets and Operations Summer 2003. Bank of England Quarterly Bulletin, Summer 2003, Available at SSRN: https://ssrn.com/abstract=706984

Simon J. Wells (Contact Author)

Bank of England ( email )

Threadneedle Street
London, EC2R 8AH
United Kingdom

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