United Kingdom
BoE publishes terms of reference for Bernanke review
Former Fed chair to provide insights into how to forecast in “significant uncertainty”
BoE presses ahead with contentious insurance reforms
Changes to matching adjustment juggle competing priorities from government, firms and regulator
BoE postpones date for UK banks’ Basel III compliance
PRA says it needs more time to consider feedback on credit risk and output floor proposals
Bank of England pauses for first time since December 2021
MPC votes 5–4 to halt cycle amid slowing inflation and a sluggish economy
People: Former MAS managing director Hu dies
New chair for Kenya central bank’s board; new member of BoE court; and more
Carney derides UK ex-PM’s economic policy
Former BoE governor says cutting taxation does not automatically lead to growth
Critic urges UK to leave China-based lender
Treasury says UK will stay in AIIB as ex-official calls some employees “useful idiots”
UK nearing top of rate cycle, Bailey says
MPC member Swati Dhingra says producer prices could herald rapid decline in headline figure
Financial regulators: one, two, maybe a few?
As Jamaica moves to introduce the ‘twin peaks’ approach to financial oversight, Ben Margulies assesses some of the pros and cons
Deep learning models are ‘fragile’, BoE paper finds
Models suffering from “Rashomon effect” need better supervision, authors say
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
BoE study recommends ‘simple and flexible’ CBDC infrastructure
Central bank needs to be wary of firms wielding too much market power, author says
BoE researchers call for more advanced stress-testing techniques
Survey finds “great strides” in modelling but calls for greater complexity and feedback loops
UK debt risks likely to stay below historical peaks – BoE analysis
But firms are increasingly vulnerable to rising interest rates, economists find
BoE’s RTGS system goes down for nearly six hours
Database problem prevented high-value payment system from opening at usual time
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
BoE paper analyses banks’ forecasting accuracy
Banks with better governance, including more senior women, make better predictions, authors find
BoE enters new phase of data transformation project
Team is now developing options to address challenges identified in phase one
BoE raises rate 25bp as ‘mixed’ data clouds outlook
“I don’t think it is time to declare it is all over,” Bailey says
The financial sanctions maze
Anyone affected by Russia-related sanctions knows patience and caution are strongly advised, writes Richard Heckinger
Bernanke to lead BoE review of inflation forecasting
Former Federal Reserve chair will work with Bank of England officials
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
UK committee claims China may have ‘engineered’ AIIB job
Legislators say China gave jobs to Alexander, Cameron and others to gain influence