United Kingdom
UK regulator and police raid crypto ATM sites
There are no legally registered crypto ATMs in the UK
BoE raises rates 25bp and ditches UK recession forecast
Central bank predicts inflation will stay higher for longer after MPC splits 7–2 on policy hike
Another financial crisis hiding in plain sight
Steve Kamin analyses how the risks that sank SVB were plain enough to those who looked for them
UK credit stress is rising, BoE official warns
David Bailey says financial firms “need to take action now” to prepare for higher defaults
What economists learned from Covid-19
A rush of work on ‘epi-macro’ yielded breakthroughs and then faded. Will there be lasting benefits?
BoE’s Pill: UK must accept it’s ‘worse off’
Chief economist says declining terms of trade mean purchasing power must fall
BoE’s Broadbent denies money supply is driving inflation
Deputy governor says M4 growth neither driven by QE or particularly linked to inflation
Finance must do more on climate risk, BoE’s Breeden says
Sector using lack of certainty as “an excuse to go slowly,” senior official says
UK inflation still in double digits in March
Analysts think MPC likely to vote for at least one further rate increase
BoE prepares shake-up of UK deposit insurance
Proposals aim to boost efficiency of payouts, as Bailey hints limits could be raised
Bailey raises possibility of setting bigger liquidity buffers
BoE governor says “we can’t assume” current buffers are still appropriate
Megan Greene to join Bank of England MPC
Kroll chief economist will succeed Silvana Tenreyro later this year
Currency round-up: De La Rue issues profit warning
Central African central bank to release new coins; and more
BoE’s Tenreyro urges reframing of QE
Perception that the central bank is “printing money” has been hard to shake
Long-term unemployment can affect inflation – BoE paper
Non-linear Phillips curve helps explain finding that breaks with previous literature
BoE paper explores ‘anatomy’ of gilts crisis
Detailed account of crisis reveals contagion, concentrated risk and role of wider market players
BoE proposes minimum resilience for LDI funds
Funds at centre of UK’s bond market 2022 crisis must withstand bigger “yield shock”, BoE says
UK banks insulated from wider troubles, BoE says
Financial policy committee “closely monitoring” events but says capital and liquidity are sufficient
Bailey says investors ‘testing’ banks for weakness
UK banks not facing same issues as SVB US or Credit Suisse, BoE governor says
Basel Committee chair reflects on CCyB effectiveness
Pablo Hernández de Cos suggests review of counter-cyclical buffer as uses of tool diverge
BoE tightens policy after inflation surprise
Hot February inflation figure prompted policy-makers to continue tightening
BoE may have ‘too much to do’, experts warn
Secondary remits may be diverting attention from key tasks, House of Lords committee hears
BoE says more work needed to assess climate capital rules
Campaigners disappointed by lack of action on building resilience to climate change
UK brokers sale of SVB subsidiary
HSBC to buy tech lender’s UK arm for symbolic fee after BoE takes part in emergency bidding process