To do this, the Bank has taken a number of initiatives. In 1995, we introduced our semi-annual Monetary Policy Report, which in many ways has become the centrepiece of our communications strategy. It is the Bank’s fullest interpretation of recent developments in the economy as well as our outlook for the medium term, the horizon over which monetary policy has its effects.
This applies to the world’s telecommunications, media and IT industries. Others are suffering directly from the worldwide fall in the value of equities, for example the European insurance and re-insurance sector, plus those well-established companies on both sides of the Atlantic which are facing under-funded employee pension and health schemes.