Bank of England (BoE)
BoE paper links inequality to credit crises
Central banks will redistribute resources whether they act or not, authors say
Mervyn King attacks central bank theories of inflation
Expectations are “too fragile” to serve as an anchor for inflation, former BoE governor says
BoE’s new RTGS system to be open 24/7 ‘if required’
Should industry support the change, the upgraded system will be operational continuously
A future-proof RTGS blueprint
Operating hours, access and data standards should all be considered by central banks contemplating an RTGS overhaul
Furlough uncertainty delayed BoE rate hike – Bailey
Roughly a million people were still using the job protection scheme when it ended, governor says
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
People: Georgieva nominates new IMF deputy managing director
BoE’s PRA names new executive directors; Dallas Fed renews terms for two board members
CBDC issuance should not be rushed, say central bank experts
Officials at Singapore Fintech Festival warn central banks must be alert to risks of CBDCs
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
No UK central bank digital currency before 2025, BoE says
A 2022 consultation will determine if CBDC should enter “development” phase
BoE outlines new ‘tiered’ CCP supervision framework
Non-UK CCPs will be labelled Tier 1 and Tier 2 following ‘reliance assessment’
BoE to start greening its corporate bond holdings
Central bank will use new climate-focused methodology to rebalance portfolio later this month
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
BoE surprises with rate hold as inflation forecasts reach 5%
Market-implied path for interest rates rises to 1% by end-2022
Carney says over $130 trillion of capital now pledged to net zero
But rich countries admit they have fallen short of net zero financing goals
‘Say what?’ Trust in central bank communications
Central banks are changing how they communicate with different audiences, but judging the success of these communication efforts is difficult
Podcast: Paul Fisher on the future of balance sheet policy
Central banks must think about the composition of their balance sheets, the former BoE official says
BoE launches ‘exploratory’ CCP stress test
Central bank will test credit and liquidity exposures, and will also conduct “reverse stress tests”
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
BoE ends off-the-record meetings with banks
Change follows concerns about similar practices at other central banks
UK government mulls giving BoE new payment supervision powers
BoE would oversee firms within the broader ‘payment chain’
People: US Senate confirms CFPB head
Israel adds new member to MPC; Swiss deputy governor will undergo heart surgery
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”
BoE paper links debt and labour supply
Households behave differently depending on their wealth and debt, paper finds