Bank of England (BoE)
BoE paper finds impatience increases austerity costs
Discussion paper finds close link between a country’s time preference and its fiscal multiplier, implying that countries wanting a slower fiscal adjustment face higher costs to austerity
BoE and PBoC potential swap line met with optimism
Bank of England executive director announces willingness to create swap line with People’s Bank of China; currency strategists see little immediate impact but potential for growth
Banking crises scar labour productivity, finds BoE paper
Research says short-term growth of productivity and long-run levels are damaged by financial and banking crises
Payments update proposed for UK money markets
Bank of England reveals details of new clearing and settlement system for gilt repos; executive director Chris Salmon encourages market participation
Bank of England unwavering in support for inflation target
MPC members hold interest rate and asset purchases to keep inflation on course to reach 2% in medium term; King condemns replacing price stability with economic growth target
Mervyn King makes final ‘regional' speech as BoE governor
King provides diagnosis, prescription and prognosis for the UK economy, and expresses fears over currency wars
Ex-BoE policymaker Goodhart favours expanding balance sheet over NGDP target
Charles Goodhart says incoming BoE governor should buy a wider range of private sector assets; warns against nominal GDP level target
BoE MPC member questions efficacy of more QE
Ian McCafferty, an external Monetary Policy Committee member, says more monetary stimulus may not boost demand as much as earlier efforts
Vickers lends support to ring-fence ‘electrification’
John Vickers backs powers to enable the UK’s financial regulator to forcibly split banks’ activities if they violate ring-fence
Robert Pringle’s Viewpoint: Cameron’s high-risk European gamble
British Prime Minister David Cameron's high-stakes bid to renegotiate the UK’s role within the EU has rankled some officials in Europe. But both sides would lose from a UK withdrawal
BoE governor says FPC ‘experiment' will need public acceptance
King says FPC will prioritise financial stability over economic policy of the day, but would need a stronger parliamentary mandate to implement loan-to-value ratios
Banking union no ‘magic answer’ to Europe’s woes, says BoE’s King
Bank of England governor says no sign of any significant progress in resolving the core issues afflicting the eurozone. But banking union may help in dealing with too-big-to-fail banks
PBoC statistics show rapid increase in renminbi trade
Efforts made by the People’s Bank of China to promote renminbi internationalisation start to pay off, as cross-border trade in local currency increases 41% in 2012
BoE unveils action plan for macroprudential powers
UK Government proposals will enable the Bank of England’s financial policy committee to impose ‘sectoral capital requirements’ to tackle systemic threats early
Draghi denies calls for rate cut as ECB holds again
European Central Bank's governing council holds rate, as inflation and growth remain steady; Mario Draghi optimistic about growing financial market confidence
Recommendation due on UK RPI calculation consultation
The UK's Office for National Statistics will make its recommendation tomorrow morning over whether and how to change how it calculates the Retail Prices Index
BoE paper tackles issue of cross-dependence in panel data models
Research published by the Bank of England uses a Bayesian approach to short dynamic panel data estimation; attempts to capture ‘cross-sectional dependence’
BoE survey shows businesses credit increased ‘significantly’ in fourth quarter
Bank of England survey finds credit extended to households and the corporate sector increased in the last quarter of 2012
Robert Pringle’s Viewpoint: Can banking recover its lost reputation?
The UK’s Parliamentary Commission on Banking Standards issued a thoughtful paper in December offering clarity on some of the flaws present in current banking reform
Carney salary doubles to $1m with BoE move
Mark Carney will receive total remuneration worth over $1 million a year when he joins the Bank of England next year, making him one of the highest paid central bankers in the world
BoE to get new FMI supervision department
Bank of England will gain new powers of oversight over financial market infrastructures after transition from Financial Services Authority in April next year
CB.com poll reveals concerns over inflationary impact of QE
Majority of participants believe extraordinary monetary policy measures will cause central banks to overshoot inflation targets
BoE’s Weale urges use of more nuanced economic models
Basing models on a single representative agent risks obscuring important results, says Bank of England’s Martin Weale; alternative is greater emphasis on behavioural economics
Central banks extend swap arrangements
Bank of Canada, Bank of England, European Central Bank, Swiss National Bank and US Federal Reserve extend temporary US dollar and bilateral swap agreements