Bank of England (BoE)
Fixing forecasting at the Bank of England
Ahead of the launch of the Bernanke review, NIESR’s Stephen Millard makes the case for three key changes to the BoE’s forecasting
Few central banks have recapitalisation deals – BoE paper
Survey of 70 jurisdictions argues institutions need “robust framework” to repair capital shortfalls
Banknotes: January to March 2024
A round-up of news and salient issues that have affected central bankers in the past three months
BIS project aims to redesign global payments infrastructure
“Most ambitious” innovation hub project to date will test BIS’s “unified ledger” concept
BoE plans upgrades to data collection process
Overhaul includes work on validation, communications with firms and common data standards
BoE says risk of ‘sharp correction’ in asset prices has risen
Drop in asset prices could trigger renewed “dysfunction” in core markets, central bank says
BoE holds policy rate as MPC flags persistent inflation
Headline price rises forecast to drop below 2% within months, but wage growth remains high
BoE official reveals details of non-bank backstop design
Bank intends to activate mechanism in crises only, despite firms’ call for standing liquidity facility
BoE paper models impact of fossil fuel ban
Degree to which renewables could replace petrol and gas would be key factor, research says
‘Passive’ QT can be costly, BoE paper finds
Research highlights need to account for frictions and build “headroom” for future shocks
Pill says BoE has focused too hard on inflation forecast
Chief economist argues “richer and more robust analysis” is needed
BoE has ‘more to do’ after compliance breaches
UK audit office says more than 40% of staff still did not feel free to raise concerns in 2023
Clare Lombardelli appointed BoE deputy governor
OECD chief economist will take over UK central bank’s monetary policy portfolio
Campaigners call on BoE to make collateral rules greener
Report says bank’s use of fossil fuel assets as collateral is adding to climate risks
Legislation needed to break non-bank deadlock – BIS’s Borio
Panellists at BoE event highlight array of shortcomings with regulatory framework
BoE’s Dhingra says restrictive policy risks ‘scarring’ economy
MPC member warns that focusing on pay and services inflation could lead to “overtightening”
Bailey hints at possible outcome of Bernanke review
Bank of England may present range of scenarios around central forecast
BoE puts American spin on fix for FRTB’s govvies dilemma
Four jurisdictions find four different ways to resolve Basel market risk capital quirk
BoE’s focus has shifted from tightening, says deputy governor
Inflation “moving in right direction” but trends still need to be monitored, Breeden says
BoE holds rates and cuts 2024 growth forecast to 0%
‘More evidence’ needed before cuts, though bank expects inflation to reach 2% by 2026
CBDC is inevitable
Central bank digital currency should be thought of as a platform rather than a product, writes Dave Birch
‘Digital pound’ enters next stage of design phase
BoE and Treasury outline how CBDC could work and try to allay concerns
Levelling the playing field for stablecoins
Regulatory asymmetries are a barrier to innovation in digital payments
UK plans to tap deposit insurance to support resolution
New mechanism would use deposit insurance to fund failed banks, bridge banks and regulators