Bank of England (BoE)
Osborne emphasises ‘support for growth' remit for BoE financial policy committee
Letter from chancellor to governor calls on FPC to give 'due weight' to its role in supporting economic recovery; call for consistent communications leads to speculation over divergent views on MPC
Gieve calls for BoE leading role in European diplomacy
Former deputy governor of the Bank of England says London is not in mortal danger from European regulation, but the UK central bank should play more of a leading role in negotiations with the ECB
BoE statistics indicate gradual lending improvement
Lending targeted by funding for lending scheme continues to creep towards positive figures; large gap between lending to individuals and to businesses
BoE paper backs CCP discretion over optimal resource allocation
Researchers conclude that central counterparties should be given some leeway to set their own provisions against loss
Winston Churchill to appear on Bank of England’s next new banknote
UK set to release new £5 banknote series in 2016 featuring portrait of former prime minister Winston Churchill; honours his parliamentary and literary work
Bank of England ups incentives for increased SME lending
BoE in conjunction with Treasury introduces new incentives in a bid to get credit to struggling small business sector
BoE’s McCafferty denies Monetary Policy Committee has ‘gone soft’
MPC member highlights positive signs for growth but says inflation is ‘more concerning’; expects inflation to remain above target but says a response is not yet necessary
BoE lending figures add credence to FLS scepticism
Business lending continues to contract in the UK, but pressure still mounts on the ECB to take steps to address eurozone recession
Robert Pringle's Viewpoint: King’s efforts to be heard hit some marks
In his calls for reform, Bank of England governor Mervyn King has ploughed a lonely furrow. But some of his efforts are paying off
King says independence is a tricky course to steer
BoE governor says central banks are expected to be partially, fully and non-independent in different parts of mandate, which is almost impossible; outvoted again at latest MPC meet
BoE’s Bailey questions why top managers not punished for failure
Head of prudential regulator says it is ‘more than odd’ that people lower down the ranks in financial institutions were punished for failures but not top managers; warns EU remuneration plans undermine UK efforts
Central bank remits have little impact on policy
Bank of England MPC member says the weight central banks ascribe to output and employment makes little difference to the monetary policy they follow
Haldane issues call to arms in fight against regulatory complexity
Bank of England executive director warns incremental approach to regulation papers over cracks and leads to a burdensome, ineffectual patchwork of rules
BoE chief economist says QE impact will vary, but not diminish, over time
Spencer Dale says effects of asset purchases depend on the time and place they are conducted; Bank of Japan’s shocking policy announcement may have been necessary to correct misperceptions
Draghi promises Cyprus bail-out is ‘no template’
Mario Draghi says an established pecking order of ‘bail-inable’ debt will avoid repeating the chaotic resolution in Cyprus; ECB and BoE both hold rates
BoE economist warns of tendency to ‘overstate’ fiscal multipliers
Matthias Paustian says simple Keynesian models can produce unrealistically high fiscal multiplier when examining fiscal policy at the zero lower bound
UK enters new regulatory landscape
UK’s new conduct and prudential regulators take over from the FSA and aim to avoid the failings of their predecessor
BoE’s FPC calls on banks to raise more capital despite drop in lending
Financial Policy Committee says banks must correct a £25 billion shortfall by the end of the year, but should not cut lending; loans to private sector continue downward slide
Osborne defends new Bank of England remit
George Osborne defends changes to Bank of England’s remit; UK economists say the finance minister has shifted the burden for stimulating growth on to the central bank
BoE Financial Policy Committee gets three new members
Former LSE head Clara Furse among the new external members named to Bank of England’s FPC; Donald Kohn re-appointed to his post
BoE survey sees signs of easing in UK financial markets
Funding costs fall and investor demand rises ‘significantly’, although total volumes remain roughly flat, Bank of England liabilities survey finds
BoE urges banks to use payments systems directly
Bank of England identifies need to clamp down on banks accessing high-value payment systems through other banks as it creates credit and liquidity risks
Nominal GDP dismissed as viable policy target in Central Banking debate
Former Bank of England officials argue against adopting a nominal GDP target for monetary policy; economist Gabriel Stein brands it ‘absolute madness’
Former BoE deputy backs dual mandate for UK central bank
Former Bank of England deputy governor says central bank remit changes in UK budget yesterday were ‘disappointing’; advocates switch to a dual mandate targeting growth and inflation