Bank of England (BoE)
People: Uzbekistan appoints new deputy; Ahmed retiring from IMF
Shohruh Shoahmedov promoted to deputy chairman; IMF’s Masood Ahmed announces retirement; BoE’s Paul Fisher to chair London Bullion Market Association
BoE’s Weale sees demand weakening more than supply
Martin Weale thinks short-term impact of UK vote more likely to drag on inflation than boost it; will also weigh impact of exchange rate movements and earnings developments in August meeting
Research explores lifting fingerprints from polymer notes
Team of scientists trial technique to ‘lift’ fingerprint from polymer surface; stress suitability of elemental copper for use in forensic examinations
BoE holds but MPC expects August easing
Pound appreciates as monetary policy committee votes 8:1 to leave rates at 0.5%; "most" committee members expect monetary stimulus in August
IMF executive board calls for greater gender equality among directors
Fund executive board encourages members to consider gender diversity when nominating directors, while encouraging female candidates to seek positions
Inflation expectations shaped by different forces in short and long term – BoE research
UK households are influenced by perceptions of actual inflation, but other factors grow in importance in the longer run, quarterly bulletin article finds
UK parliamentarians to examine exchanges between Carney and Osborne
Bank of England governor defends position on Brexit analysis to MPs; process to be agreed regarding examination of discussions between chancellor and BoE governor
Network analysis sheds light on systemic risk – BoE paper
Pilot study of derivatives markets makes use of CDS data to map network of interlinkages, finding more than just immediate counterparty ties matter for systemic risk
Balance sheet policy matters for credibility – Norges Bank paper
Researcher argues a central bank’s financial strength may affect its ability to meet its monetary policy mandate, based on evidence from the UK’s gold standard period
BoE part-way to meeting Carney’s strategic vision – annual report
Central bank is reshaping its operations to meet ‘One Bank’ plans and comply with its new obligations under the UK’s senior managers regime, annual report says
Bank of England cuts CCB to 0% to support credit supply
In wake of Brexit uncertainty, concerns over supply of credit ‘taken off the table’ says Carney; new buffer rate to give confidence to UK economy that banks can lend in ‘challenging times’
Monetary easing ‘likely’ required over summer, says Carney
Governor expects easing in wake of UK vote to leave the EU; announces additional weekly liquidity operations as part of response, but acknowledges limits to what BoE can achieve
UK must ensure there is no Mark Carney exit
Calls for Bank of England governor to step down must be resisted – Mark Carney represents a vital source of stability at a time of heightened uncertainty for the UK
BoE injects £3.1bn liquidity into UK banks
First post-referendum liquidity auction sees banks draw £3.1 billion in long-term repos, mostly against the weakest eligible collateral class
Analysts see intervention challenge for central banks
Following the fallout of EU referendum result, central banks step in to stabilise currency movements; analysts expect volatility to continue, but see challenges to intervention
BoE seen shifting into easing mode
Many economists view Bank of England as likely to shift towards an easing bias, but the central bank may find itself with limited room for manoeuvre
EU exit vote throws up financial stability risks
UK plunged into uncertainty and markets hit hard, with bank stocks some of the worst affected, but more serious problems seem to have been avoided for now
Central banks offer reassurance as UK votes to leave EU
Mark Carney stresses UK authorities are “well prepared” for the outcome, as central banks across globe pledge liquidity if needed; narrow vote to leave sees David Cameron announce resignation
BoE launches fintech collaboration
Bank of England is working with fintech firms on innovations to support central banking, including its own distributed ledger; non-bank payment providers to gain direct access to RTGS system
BoE seen facing tough task in event of Brexit
Economists see Bank of England faced with task of stabilising financial markets while currency plummets and economy slows, making policy decisions tough; Carney hits back at critics
Bank of England banknote first in the world to feature new foil technology
BoE launches new fiver with ‘Kinegram Colors’ technology taking centre stage; new note to enter circulation in September
Structural funding ratios could have helped detect failing banks – BoE working paper
Bank of England working paper reveals structural funding ratios could have helped detect which banks were likely to fail in the 2008 crisis; wholesale funding structures most prone to failure
Kohn encourages Chinese efforts on financial stability
Don Kohn, an external member of the Bank of England's FPC, welcomes Chinese work on a framework for macro-prudential regulation, and offers his insight on counterparts in the UK and US
BoE paper explores impact of climate-change policies on central bank objectives
Unexpected tightening of carbon-emission policy could generate "significant" balance-sheet losses, paper says; transparency is key to maintaining financial stability