Bank of England (BoE)
Published rate path has similar effect to other communication – BIS study
Communication is important, but the “exact form” less so, according to research
Global crisis uncertainty harmed investment – BoE paper
Authors say their results offer a benchmark for possible Brexit-related uncertainty
Haldane: market power puzzle is important for policy
Micro and macro evidence “not easily reconciled”, says BoE chief economist, but market power could have major impact on inflation
Removing low-denomination coins not inflationary - BoE research
Rounding would be applied to total bill and not individual items, paper argues
People: Chinese and Turkish central banks each gain new deputy governors
Bank of England director to lead Irish central bank financial stability department; and more
Bank of England mulls synchronised settlement for new RTGS
Adding new functionality could reduce cost and risks for RTGS participants, BoE says
The battle for cyber resilience
The cyber attack on Bangladesh Bank prompted central banks around the world to change their approach and refocus on contingency planning, but are they ready now?
Podcast: David Hendry and John Muellbauer on empirical macro
The econometricians cast a sceptical eye over DSGE models and weigh up some alternatives
Non-linear mortgage features can impact policymaking – BoE paper
Non-linear features of mortgages impact policymaking in a DSGE model, the authors find
Competition strengthens banks close to insolvency – BoE paper
Competition policy’s impact on banks varies depending on the underlying health of the individual firms, BoE paper says
Sponsored forum: Putting big data into action
Central Banking convened a panel of experts to discuss how central banks and other supervisors can maximise the potential of data, while overcoming hurdles to its collection and deployment
Putting big data into action
Big data is changing the way central banks think about the economy and oversee the financial system. In a forum sponsored by BearingPoint, Central Banking convened a panel of experts to discuss the innovative ways central banks are making use of big data.
FPC better equipped for crisis than FSOC – BoE paper
Paper compares how macro-prudential regulators in UK and US would handle a 2008-style crisis
BoE mulls post-QE balance sheet policy
Central bank is “minded” to retain its floor system for setting rates, but demand for reserves is an unknown quantity
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
Bank of England forms new enforcement committee
Six-member committee will rule on contested enforcement cases
BoE updates estimate of equilibrium interest rates
Latest data shows demographic factors have weighed heavily on real interest rates
BoE lifts rates despite signs of a global weakening
MPC votes unanimously to raise rates to 0.75%
BoE paper tests bond market ‘liquidity resilience’
Study of gilt futures draws on novel dataset to assess stability risks
BoE paper uses millions of job adverts to understand labour market
Researchers analysed 15 million adverts over eight years to categorise jobs
Bank of England poised for hike despite weak data
Economists still expect a raise in interest rates when the MPC meets next week
Labour reallocation explains productivity puzzle – BoE paper
Methodological innovation helps solve data-quality issues, author says
UK regulators welcome Brexit ‘back-stop’ legislation
Draft law would allow firms temporary access to UK markets in event of ‘hard’ Brexit
Bank of England experiment tests RTGS with DLT in mind
DLT proof-of-concept participants suggest implementing “cryptographic-proof” model