European University Institute Library

The Bank of England, 1950s to 1979, Forrest Capie

eng

Includes bibliographical references (pages 835-852) and index

illustrations

index present

non fiction

The Bank of England

bibliography

502037191

Forrest Capie

Studies in macroeconomic history

1950s to 1979

"This history of the Bank of England takes its story from the 150s to the end of the 170s. This period probably saw the peak of the Bank's influence and prestige, as it dominated the financial landscape. One of the Bank's central functions was to manage the exchange rate. It was also responsible for administering all the controls that made up monetary policy. In the first part of the period, the Bank did all this with a remarkable degree of freedom. But economic policy was a failure, and sluggish output, banking instability, and rampant inflation characterized the 170s. The pegged exchange rate was discontinued, and the Bank's freedom of movement was severely constrained, as new approaches to policy were devised and implemented. The Bank lost much of its freedom of movement but also took on more formal supervision"--, Provided by publisher

1. Introduction and overview; 2. The, Bank in the 150s; 3. The, monetary setting and the Bank; 4. The, Bank's external responsibilities to 164; 5., From crisis to 'crucifixion'; 6., Domestic monetary policy after Radcliffe; 7., Other activities and performance; 8., Sterling from devaluation to Smithsonian; 9. The, road to competition and credit control; 10., Competition and credit control; 11. The, secondary banking crisis; 12., Banking supervision; 13., Monetary targets and monetary control; 14. The, Bank and sterling in the 170s; 15. The, Bank's freedom to operate; 16. Epilogue