Bank of England (BoE)
Inflation may hit 5%, but we couldn’t have done it different: King
Bank of England’s Inflation Report says inflation will likely soar further; medium term outlook shifts slightly as spare capacity margin revised downwards
King acknowledges risk of wage-price spiral as inflation climbs to double Bank’s target
Inflation of 4% in January prompts Bank of England governor Mervyn King to pen another letter to the chancellor; letter acknowledges mounting inflationary pressures
Bank amends collateral rules for sovereign debt
Revisions adjust ‘narrow’ and ‘wide’ bands for eligible collateral; change is for liquidity reasons
FSA, Bank call for closer dialogue with auditors
Financial Services Authority releases draft code targeted at enhancing communication with auditors
Bank’s inflation argument ‘fanciful’: ex-MPC’s Julius
Former Bank of England rate-setter DeAnne Julius says inflation expectations risk becoming unmoored; monetary policy acting for financial stability, ex rate-setter Tim Besley adds
Ex-Bank economists parry fears of wage-price spiral
Upsurge in inflation will not pass through into wages, economists at Fathom Consulting believe
Central banks accused of collateral hypocrisy
Despite the funding risk it creates, central banks still refuse to sign two-way collateral agreements
Cut Bank’s vote on macroprudential body, say lawmakers
Influential parliamentary committee calls for Bank of England executive directors’ votes to be transferred to external members, citing amount of power vested in central bank
Bank of England - Asset Purchase Facility Report (Fourth Quarter 2010)
Bank of England Fourth Quarter 2010 Asset Purchase Facility Report shows Bank made first purchase in secured commercial paper
Bank’s Weale explains thinking behind vote for hike
Bank of England external rate-setter Martin Weale says fear of higher inflation expectations becoming ingrained is real
Basel III should aim higher on capital targets: Bank research
Discussion paper published by Bank of England and co-authored by external rate-setter David Miles suggests Basel III common equity requirements are too low
Bank’s Weale joins Sentance in vote for rate hike
Bank of England’s external MPC member Martin Weale joins Andrew Sentance in vote for 25-basis point rate hike; decision marks growing divisions in rate-setting committee
Bank of England - Agents’ summary of business conditions (January 2011)
Bank of England’s January 2011 Agents’ summary of business conditions says severe weather conditions in December had negative impact on household spending
Supply shocks are dictating inflation, King insists
Bank governor reiterates view that temporary events are keeping prices elevated, says development of second-round effects key to picture on underlying inflation; remarks divide analysts
MPC’s Sentance critical of fellow policymakers’ focus on output gap
Bank of England’s Sentance dismissive of overemphasis on domestic output gap; says global factors must not be neglected as merely short-term disturbances when conducting policy
Oddsson renews spat over Icesave dispute
Former Central Bank of Iceland chairman David Oddsson says Mervyn King gave assurance that Icelanders would not have to bear costs of Icesave deposit insurance
Bank of England – Trends in Lending (January 2011)
Bank of England’s January 2011 Trends in Lending survey show lending to business in the UK over the three months to November declined by £5 billion
Bank’s Haldane borrows from science to explain systemic threats
Bank of England’s Andrew Haldane collaborates with scientist Lord Robert May in top journal Nature to highlight implications of interconnections between firms on stability of the financial system
Bank rate set to remain on hold despite fresh rise in inflation
Bank of England unlikely to raise rates despite higher-than-forecast rise in inflation in December; analysts say central bank is right to keep rates on hold
Calomiris to join Bank as Houblon-Norman fellow
US academic Charles Calomiris set to spend three months at the Bank of England, to examine development of Bank’s lender-of-last-resort role
What Basel III means to us
The Basel Committee on Banking Supervision published the final text of Basel III on December 16, which introduces new minimum capital requirements, two liquidity ratios, a charge for credit value adjustment and a leverage ratio, among other things. Risk…
Stability objective should drive financial policy, says BoE’s Bailey
Bank's Bailey says stability goal must not be swayed by “murky compromises with other objectives”
CentralBanking.com’s top ten stories of 2010
Regulatory change features heavily
BoE: Agents’ summary of business conditions (December 2010)
Bank survey shows strong export growth, rise in manufacturing and services activity; weak housing market, tough credit conditions for small firms