Bank of England (BoE)
M1 vs M0 in an instant payments world
Manmohan Singh explains how measurement of ‘narrow’ money is changing
BoE will need to closely monitor shift to T+1 if it is to succeed – report
UK will move to accelerated settlement by 2027, even if rest of Europe has yet to align
Rate markets had lucky escape from August stock crash, says BoE
FPC minutes suggest spillover might have occurred were it not for positive macroeconomic news
How (not) to review your monetary policy framework
The Fed made some mistakes in its last strategy review. As it prepares to have another go, it could learn from other central banks
BoE’s Greene strikes cautious note on consumption
Monetary policy committee member says UK consumption has been weak, but risks are to the upside
Pricing and funding pressures from BoE's QT hit gilt repo dealers
QT-driven funding cost rises combined with clients’ price demands see at least two banks pull back
BoE keeps policy rate and pace of QT unchanged
Policy-makers back “gradual approach” to lowering interest rates
Rise in UK services inflation curbs bets on BoE rate cut
CPI flat overall, but economists say uptick in core and services numbers likely to make policy-makers pause
BoE’s revised Basel III plans will be ‘welcomed by industry’
Banks will breathe “sigh of relief” over less stringent proposals, say experts
BoE and bond vigilantes ‘not responsible for 2022 gilts crisis’
Ex-bank official rejects former PM’s claims that LDIs were primary cause of yield spike
The post-Archegos risk model rebuild begins… slowly
Following regulatory prodding, banks start to overhaul counterparty risk models. A flurry of new research on the topic may aid the effort
BoE calls for wider research into operational resilience
Most studies have focused on cyber attacks, though UK has been hit by varying types of incidents
Bailey highlights key challenges to central banking orthodoxy
BoE governor says focus on financial stability remains key during “Covid-Ukraine era”
Public sector pay rises ‘will not drive UK inflation’
Former BoE deputy governor says wage agreements’ impact on private sector prices is likely to be limited
Distribution of reserves determines QE and QT’s impact – BoE paper
Policies have ‘highly asymmetric’ impacts on reserve-scarce banks, researchers say
UK CPI up less than expected as services inflation falls
Figures may help allay concerns over persistent wage pressures
Honey, I shrunk the Fed. (Not a sci-fi fantasy)
Promoting the discount window may be the Fed’s key to shrinking its $7trn balance sheet, says Bill Nelson
Sovereign debt in default fell by 1% in 2023 – BoC study
Research finds shift in lending away from Paris Club creditors towards China
Major UK banks better placed for resolution, says BoE
Central bank publishes new assessment on institutions’ resolvability in the event of failure
Bank of England cuts rates for first time since 2020
MPC votes for 25bp reduction in split decision after Fed opts to hold
Innovate to defend status of central bank money, says BoE
Bank “exploring options” to widen access to settlement