Bank of England (BoE)
Welcome to Twin Peaks
The decision by the British government to adopt the Twin Peaks model of financial regulation represents a significant turnaround in the Bank of England’s political fortunes, writes Michael Taylor.
Preventing system failure
A model borrowed from ecology offers new insights for policymakers in how to understand and combat systemic risk, writes Claire Jones.
Interview: Andrew Haldane
The executive director for financial stability at the Bank of England talks to Robert Pringle about lessons from the crisis, the macroprudential toolkit, links between monetary policy and financial stability, and whether the banking industry needs to be…
Interview: Donald Kohn
Blair Baker talked to Donald Kohn on 9 July about his career at the Federal Reserve, monetary policy, the crisis and the future of financial regulation.
Banks can deal with refinancing burden: ECB
European Central Bank gives vote of confidence to lenders, pointing out banks were able to refinance $2.4 trillion in maturing debt between 2007 and June this year
Bank leaps to defence of off-target inflation forecasts
Bank of England lifts inflation predictions on volatility from short-term shocks, mounting spirited defence of erroneous predictions to date; slightly lowers growth expectations
King takes firm line on QE, direct lending
Bank of England governor Mervyn King says small businesses’ problems won’t be solved by direct help from the central bank; stresses that banks will be weaned off liquidity support
BIS’s Hannoun flags dangers of exceptional measures
Bank for International Settlements’ Hannoun calls on central banks to shrink balance sheets
Commentators sharpen knives ahead of Bank’s forecasts
Leading media outlets criticise Bank of England’s forecasting methods ahead of Wednesday Inflation Report; former Bank economists say new model welcome but will not remedy rate-setters unfounded optimism, which underpins off-target predictions
FSA exodus stokes fears of anaemic operations
Regulator revealed to have shed 121 personnel in second quarter of the year, 128% up on a year previous; insists it still draws top talent, but commentators worry resignations will weaken it
Bank’s macro model takes a bruising
Former Bank of England economist says model misjudges trade-off between growth and inflation
Bank of England – Asset Purchase Facility Annual Report (2009/10)
Asset Purchase Facility Annual Report shows Bank £1.75 billion down on back of decline in value of gilt stock
King parries claims Bank will get too much power
Bank of England governor Mervyn King says creation of the Financial Policy Committee will not make central bank too powerful
King stresses wait-and-see approach to rate-setting
Bank of England governor Mervyn King dismisses suggestions that one or another view dominates rate-setting committee; deputy Charles Bean reiterates question marks over effects of quantitative easing
Policy produces dull but safe banks
In the second of a six-part series on the Japanese economy, Robert Pringle reports from Tokyo on how the crisis has impacted the nation’s global outlook
BoE: Asset Purchase Facility Quarterly Report (2010 Q2)
Bank of England’s latest Asset Purchase Facility Quarterly Report shows fear over eurozone debt crisis led to rise in corporate debt purchases
Westminster spells out Bank’s importance in new regulatory structure
Bank-led committee will instruct prudential regulator and consumer body on policy; Treasury asks industry players for input on broadening new body’s objectives
UK lawmakers launch inquiry into regulatory revamp
Influential Treasury Select Committee says it will launch investigation of government plans for new regulatory structure
Tax increase creates dilemma for BoE policymakers
Bank of England hints at further stimulus despite signs inflation will remain high on the back of value added tax hikes
Faulty paper halts note production at De La Rue
Banknote printer De La Rue suspends production at its Hampshire plant owing to paper fault; shares plummet on company statement that 2010 production and sales will be affected
BoE: UK consumer confidence continues to slump
Bank of England field survey on business conditions shows consumer sentiment slightly weaker in second quarter of 2010 as sales declined
BoE expands discount window collateral list
Bank of England to accept loans to individuals and businesses as collateral for discount window in order to provide more liquidity in times of stress
Bank of England – Trends in Lending (July 2010)
Bank of England’s July lending report shows further declines in bank loans as demand continues to weaken
Bank’s Sentance explains vote to raise rates
Bank of England Monetary Policy Committee member Andrew Sentance says evidence of a marked recovery motivated decision to begin process of normalising rates