Bank of England (BoE)
BoE hikes main rate and begins shrinking balance sheet
UK Treasury unveils parallel measures to cushion impact of surging energy prices
UK inflation hits 30-year high
Figure is now highest since CPI series began, driven by energy and food prices
No ‘convincing case’ for UK retail CBDC, say legislators
Report warns of potential “significant challenges” for financial stability and privacy posed by CBDC
Higher interest rates to challenge gold in 2022
But real rates are likely to remain low in historical terms, and gold tends to perform better with high inflation
Labour market news matters for business cycle – BoE paper
Findings suggest previous focus on productivity is too narrow
Material world: the enduring appeal of paper banknotes
Central banks have used space-age polymers to make banknotes for decades. So why does paper remain predominant in banknote production?
BoE to publish ‘pop-economics’ book
‘Can’t we just print more money?’ is latest step in educational push by central bank
2021: The year in review
The year has seen central banks switch from recovery mode to battling inflation. Central Banking looks back at the stories that made the biggest impact in 2021
BoE paper warns of ‘non-standard errors’
Researchers may introduce additional errors to data samples through their analysis
How to solve the payments privacy paradox
Anonymous CBDC has major drawbacks, but privacy in payments can still work, says Dave Birch
UK court recognises Venezuelan opposition central bank board
Rival Venezuelan leaders have struggled over central bank and overseas gold reserves
Bank of England raises policy rate
Tightening comes amid inflation surge and just after BoE completes asset purchases
IMF urges UK to withdraw ‘exceptional’ monetary policy
Fund says signals would dampen inflation expectations while leaving policy supportive
BoE tightens countercyclical buffer as risks stabilise
Banks expected to meet higher rate without cutting lending, even as capital ratios dip
Book notes: Shades of sovereignty, by Paul Wilson
An essential and stimulating read for central bankers thinking about the monetary history of their state in relation to its historical perspective and broad international trends
Tackling surging inflation
Central banks around the world are grappling with rapid price rises, with some taking very different routes to one another
BoE opens sharia-compliant facility after six years of work
‘Wakalah’ liquidity facility designed to address disadvantage faced by Islamic banks
BoE paper links inequality to credit crises
Central banks will redistribute resources whether they act or not, authors say
Mervyn King attacks central bank theories of inflation
Expectations are “too fragile” to serve as an anchor for inflation, former BoE governor says
BoE’s new RTGS system to be open 24/7 ‘if required’
Should industry require it, the upgraded system will be operational continuously
A future-proof RTGS blueprint
Operating hours, access and data standards should all be considered by central banks contemplating an RTGS overhaul
Furlough uncertainty delayed BoE rate hike – Bailey
Roughly a million people were still using the job protection scheme when it ended, governor says
UK and China renew bilateral swap line
350 billion yuan swap line extended for a further five years
People: Georgieva nominates new IMF deputy managing director
BoE’s PRA names new executive directors; Dallas Fed renews terms for two board members