United Kingdom
The case for restoring the role of monetary aggregates
Tim Congdon argues that a surge in money supply in response to Covid-19 sparked heightened inflation and central banks need to refocus their attention on monetary aggregates
UK’s possible next prime minister promises BoE mandate change
Liz Truss says situation now “very different” to when central bank’s mandate was laid down in 1997
BoE accelerates tightening as inflation expected to hit 13%
“Enormous” external shocks to blame for large changes in forecasts, officials say
People: UK names veteran banker as chairman of BoE court
Appointments in Nicaragua, Cape Verde and Central African currency zone
UK government proposes ‘competitiveness’ mandate for BoE
Measure proposed despite IMF warning that it could clash with financial stability mandate
Bailey says bigger hikes and faster QT ‘on the table’
BoE governor says MPC is willing to act “forcefully” to prevent inflation persisting
DNB fines Binance for ‘grave’ regulatory breach
Netherlands sanctions exchange over failure to register, but other regulators are more welcoming
BoE’s Saporta floats idea of countercyclical liquidity buffer
Design of Basel III rules may be causing banks to hoard capital and liquidity, official says
Mismeasurement may cause ‘missing-investment puzzle’ – BoE’s Bailey
Rise in intangibles could explain apparent fall in investment despite stable returns, governor says
Cash, not trash: the second lives of substrate
Central banks and their banknote providers are taking a range of approaches to recycling cash
BoE’s Pill says focus is on slower-moving elements of inflation
Policy-makers trying to walk “narrow path” as they resist second-round effects of high inflation
Top central bankers admit inflation models fell short
Reliance on Phillips curve and demand-driven models may have created blind spots
BoE’s Mann says UK needs to respond to higher rates abroad
Exposure to global spillovers likely making UK inflation worse, says MPC member
People: IMF names new Asia-Pacific head
New deputy governors in Jamaica and Azerbaijan, and more
BoE opts for 25bp hike as growth disappoints
Weakening economy and high inflation leave policy-makers divided
The signal and the noise: cash forecasting in uncertain times
From big data tools to Arima models and structural time series, cash forecasting methods are evolving. The work could prove critical to the future of cash during uncertain times
BoE finds ‘shortcomings’ in three UK banks’ resolution plans
Central bank’s first resolvability assessment concludes banks can now fail “safely”
Book notes: Two hundred years of muddling through, by Duncan Weldon
Insights into UK economic history offer lessons for today’s policy-makers
Sovereign green bonds: the reserve portfolio’s panacea?
German, Swedish, Danish and UK debt managers speak to Victor Mendez-Barreira about ‘twin bonds’ and other efforts to solve green bond liquidity concerns
BoE paper examines microstructure of UK banking system
Authors stitch together supervisory datasets to study likelihood of crisis
BoE set to gain stablecoin insolvency powers
Government proposal would amend existing rules for dealing with failed payment systems
BoE climate stress test finds impact will fall on bank customers
Sam Woods questions whether capital is “best tool” to address climate change
BoE’s Bailey hits back at monetary policy critics
Facts “simply do not support” argument that central bank was too slow, governor says
BoE’s Pill says UK facing strong ‘inflationary momentum’
Latest inflation forecast “does not make for pretty reading”, says chief economist