Bank of England (BoE)
BoE tells LME Clear to fix governance failings
Regulators open “enforcement investigation” into nickel market disruption
Book notes: A guide to good money, by Brendan Brown and Robert Pringle
The authors make some good points even if one does not agree with this full-bodied attack on Keynesian economics and inflation targeting
BoE policy-makers highlight value of ‘outreach’ efforts
Talking to public has been “sobering” and helped shape communication, officials say
BIS’s Skingsley urges central banks to collaborate on tech
Developing new technology may require “more openness than central banks are used to”
Digital pound unlikely to be monetary policy tool – Cunliffe
Deputy governor says effect of paying interest unclear and could clash with other objectives
Marks (and sizes and colours) of distinction
Many central banks make an effort to make cash accessible to blind and partially sighted users
BoE’s Mann challenges idea of ‘long and variable lags’
MPC member says changing transmission of policy in UK may demand more tightening
BoE officials deny complacency over second-round effects
First-round impact of shocks is driving the bulk of inflation, policy-makers say
Digital pound would help resist ‘walled gardens’ – BoE’s Cunliffe
Tech firms may be able to quickly gain payments dominance, which a CBDC could break
BoE launches design phase of ‘digital pound’ project
UK likely to issue central bank digital currency as anchor for monetary sovereignty
BoE’s Mann: high-frequency data points to possible ‘turning point’
Several indicators hint at a turn in inflation, but the MPC member wants to see more evidence
Australia will not put king’s image on banknote
RBA says new design will honour indigenous people
BoE tightens by 50bp as inflation set for sharp fall
Forecasts imply Brexit, pandemic and energy prices will cause long period of weak productivity
UK prepares to regulate crypto sector
Government wants to “capitalise” on benefits of crypto assets while controlling the risks
Wanted: radical ideas for inflation modelling
Hedge funds echo Mervyn King’s calls for a new approach to inflation modelling post-2022 crisis
Expected loss model can cut capital procyclicality – BoE paper
New approach to loan loss provisioning can improve stability of capital and leverage ratios
BoE says rush to sell could undermine insurance stability
Supervisor questions whether some firms’ stress-test assumptions are “realistic”
Alan Budd: 1937–2023
Economist played key role in establishing BoE’s inflation-targeting framework
Capital buffers not all working as intended – BoE paper
Some banks raised rates and contracted credit supply during the Covid-19 crisis
BoE paper finds non-banks act as global stabilisers
Non-bank firms help dampen the impact of US monetary policy spillovers, authors find
UK on way to wholesale stablecoin payments
Government official says private stablecoin likely to arrive before digital pound
BoE completes unwind of gilt market intervention
“Financial stability portfolio” took a month and a half to wind down, as QT continues
BoE’s Pill says UK vulnerable to inflation persistence
Confluence of factors leaves UK in worse position than others, chief economist says
People: Nigeria reappoints deputy governors
Czech National Bank names new deputy; New York Fed appoints chief operating officer; and more