Bank of England (BoE)
A new vision of the Old Lady
The strategic review at the Bank of England represents an opportunity to create an ‘Economics Directorate’, a research department and an external policy unit, writes Richard Barwell
One in five in UK 'aware of forward guidance'
Policy may indirectly affect households' interest rate expectations and spending through media reports and effects on business spending, according to report
Bank of England unveils forward guidance ‘phase two'
The current policy will be scrapped when UK unemployment reaches the bank's 7% threshold ‘in the coming months' in favour of a less easily defined version aimed at reducing labour market slack
Bank of England has no evidence it 'condoned' FX market manipulation
UK central bank launched an investigation into allegations its own staff condoned foreign exchange market manipulation, months before the case came to light last week
Former BoE staffer sets out vision for Bank's reorganisation
Richard Barwell, now a senior economist at RBS, calls for a reshuffle at the Bank of England which would see the MPC gain a majority of external members, and a redefined chief economist position
Riksbank unveils organisational shake-up
Three new units streamlining asset management and payment operations will come into being on March 1; also announces transfer of Skr3.3 billion to Treasury
Bank of England says BBA could co-ordinate response to banking cyber attacks
Sweeping exercise aimed at preparing UK banks against attacks against financial infrastructure by ‘hostile nation state' also sees some firms struggle with new dual regulatory structure
Bank of England to lay off up to 100 staff
The central bank is looking to save £18 million over the next three years by making operations leaner; union representatives ‘strongly' oppose resulting redundancies
Simple indicators better for regulators, BoE economist argues
The experience of the 2008 crisis shows leverage ratios are better warning signs than more complex measures like capital ratios
Bank of England will recalibrate forward guidance next month
Governor Mark Carney tells an audience in Davos he would prefer the next stage of forward guidance not to focus solely on unemployment, but on ‘overall conditions' in the economy
Major central banks phase out dollar liquidity operations
ECB, BoE, BoJ and SNB will start scaling back the amount of dollar liquidity they offer to market participants in April in response to waning demand
BoE's Fisher says falling unemployment needn't mean rate rises
Bank of England's monetary policy committee must plot a course between choking off the recovery and allowing inflationary pressures to rise excessively, says head of markets Paul Fisher
BoE prudential regulator wrestles with early warning indicators calibration
Calibration for general insurers and with-profits funds frustrates regulator's progress
BoE's McCafferty says 'lagging' investment recovery ready to start
Worries over a lack in business investment growth are misplaced, according to MPC member Ian McCafferty, who says it is normal for it to lag growth in other sectors
Vaguer guidance in vogue as unemployment continues to confound
As UK and US unemployment brushes the thresholds of monetary policy forward guidance, central banks' next moves are anything but straightforward
BoE's Miles finds market context decisive for QE impact
Impact of QE working through a portfolio rebalancing channel is weak in an environment of 'functioning financial markets'; implications for purchases made in dysfunctional markets unclear
BoE's Broadbent examines UK economic growth conundrum
MPC external member says real wages have fallen due to specific economic 'headwinds', which are now beginning to abate; productivity is also on the rise, he says
Paul Tucker laments 'faltering vigour' of international reform
Former BoE deputy governor argues there is 'less coherence, faltering vigour and conflicting views about how different national regimes should apply to inherently international markets'
Central banks in Israel, UK close in on new deputies
Bank of Israel governor Karnit Flug nominates academic Nadine Baudot-Trajtenberg as her deputy; UK Treasury begins process of replacing Charles Bean at the Bank of England
Bank of England launches new liquidity provision framework
First ‘indexed long-term repo operations' under framework unveiled in October scheduled for early February; will provide ‘more liquidity at cheaper rates, longer maturities against wider range of collateral'
BoE's Carney downplays UK housing risks
The governor, who is also head of the country's principal macro-prudential regulator, says higher prices and ‘mortgage availability' is due to housing market bouncing back from ‘low base'
People: Canada deputy retires; Tucker becomes Sir Paul
John Murray's retirement creates a deputy governor vacancy at the Bank of Canada; former Bank of England deputy Paul Tucker is knighted; and more
2013: The year in review
The past year has seen growing acceptance of a new normal in central banking, and concrete progress on various elements of bank regulation – we look back at the biggest stories of 2013
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England