BoE should ‘step up’ data analysis, review says

Independent Evaluation Office urges central bank to embrace cloud and explore AI

Bank of England night Getty 174788162

The Bank of England should commit more resources to data analysis and tackle “process issues” that currently hamper its use of data, an independent review finds.

“With best practice in data and analytics advancing rapidly, the bank will need to step up the pace of change – and associated investment – if it is to take advantage of new opportunities,” the BoE’s Independent Evaluation Office (IEO) said.

The IEO’s report, published on October 17, says “data capabilities” are inconsistent across

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