Bank of England (BoE)
BoE proposes ‘amended’ sharia-compliant fund
UK central bank could launch a fund as soon as 2018, the consultation paper says; the facility would be off balance sheet in the form of a special purpose vehicle
BoE’s Vlieghe: good policy is more than accurate forecasting
MPC member says doctors cannot forecast heart attacks, but are still pretty useful before and after the event
RBI’s Patel gets pay rise but remains cheap by G20 standards
RBI governor sees his pay increase somewhat relative to his predecessor, but other G20 governors and even other RBI staff earn substantially more
Uncertainty matters for forward guidance success – BoE paper
Authors show that introducing uncertainty generates significantly different macroeconomic effects, with implications for policymaking
Haldane: central banks could ‘gamify’ communications
The game Monopoly could be the next tool in central bank’s communication toolbox, Haldane says, warning complex language breeds distrust
BoE considers palm oil as tallow alternative for polymer notes
Bank of England issues polymer consultation after tallow controversy; palm oil will add £5 million to printing costs if adopted
UK launches new £1 coin
New £1 is the “world’s most secure coin”, mint claims, integrating new security features previously used solely for banknotes; businesses have until October 2017 to recalibrate machines
Sterling shorts could see sharp unwinding on Brexit day
As the start of the negotiation process between the UK and EU approaches, an already weak sterling faces more tests
Bank of England launches first ‘exploratory’ stress test
BoE will assess banks’ longer-term resilience to periods of stagnation; cyclical test made tougher
BoE’s FPC sounds warning on implementation of global standards
FPC cautions on global co-operation around regulatory standards; follows plans for deregulation in the US and tit-for-tat threat from German regulators
BoE paper: ‘imperfect common knowledge’ implies Taylor principle need not hold
It is not strictly necessary for a central bank to respond to temporary deviations of the economy from trend, paper finds; result challenges findings such as ‘Neo Fisherism’
Exporters’ ‘sweet spot’ unlikely to be enjoyed for long, says BoE’s Broadbent
BoE deputy investigates cause of sterling’s Brexit depreciation, examining potential impact of market speculation
Carney: no double standards on conduct at BoE
Governor says central bank held itself to even higher standards than it expects of regulated firms in dealing with Charlotte Hogg’s disclosure mistake
Boost technology diffusion to solve productivity puzzle – Haldane
BoE’s chief economist says a “long tail” of low-productivity firms need support as they fall further behind a small frontier group
Third of businesses think investment has been ‘too low’ – BoE survey
Bank of England publishes results of survey of UK firms in latest quarterly bulletin; businesses experienced both real economy and financial “obstacles” to investment
BoE’s PRA should clarify approach to insurance, report says
Report asks Prudential Regulation Authority to review boundaries of “policyholder protection”, warning the regulator not to stray into the FCA’s territory
BoE research offers insights from new regulatory database
The new database, comprising banks’ regulatory submissions, allows authors to shed new light on the evolution of the UK banking sector in recent decades
BoE collaborates with fintech firms to enhance payment system
BoE establishes new fintech community to discuss developments in the industry; next round of proof-of-concepts to examine ‘interledgers’ and threat intelligence
BoE’s Forbes dissents as inflation looms
MPC member votes for 25bp hike as inflation looks set to exceed target until “at least” 2020; other members sitting on the fence, for now
BoE’s Jackson: need to intervene on market function still an open question
Head of forex and reserves management discusses evolving understanding of flash events, market structure, and whether there is a case for further intervention
Charlotte Hogg resigns from Bank of England
New deputy governor is stepping down as a damning report on her conflict of interest and suitability for the role is published
Basel action needed before ‘regulatory cycle’ turns
Failure to reach a deal raises the risk of more entrenched protectionist positions
Hauser makes case for BoE’s second line of defence
Ballooning balance sheet and growing contingent liabilities raise need for central bank to bring its risk management in line with “best practice”, executive director says
BoE paper isolates loan supply impact of credit crunch
“Rich, tailor-made data set” informs study of how pre-crisis bank lending characteristics may have impacted post-crisis credit supply