United Kingdom
BoE surprises with rate hold as inflation forecasts reach 5%
Market-implied path for interest rates rises to 1% by end-2022
Carney says over $130 trillion of capital now pledged to net zero
But rich countries admit they have fallen short of net zero financing goals
Time to stop handing out the pills: the great QE detox
We are facing a serious inflation threat that will test the resolve of central bankers, writes Jagjit Chadha. Central banks must reduce their reliance on QE. But how?
BoE launches ‘exploratory’ CCP stress test
Central bank will test credit and liquidity exposures, and will also conduct “reverse stress tests”
Permanent or transitory? Officials wrestle with inflation uncertainty
Bailey warns of possible damage to credibility, but Carstens urges caution amid high uncertainty
People: FCA chair steps down; Esma chair steps up
UK FCA chairman to depart; Verena Ross to chair Esma; new boards for Ecuador’s central bank
BoE ends off-the-record meetings with banks
Change follows concerns about similar practices at other central banks
FCA staff seek union help following pay cut proposals
Unite union considers seeking statutory approval to represent staff at the UK regulator
UK government mulls giving BoE new payment supervision powers
BoE would oversee firms within the broader ‘payment chain’
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
UK’s FCA to invest £120 million in move towards cloud
Chief executive Nikhil Rathi says FCA will be “data and digital first” regulator
BoE report sheds light on Covid market operations
Surge in scale and frequency of operations amid switch to work from home created “issues”
BoE paper links debt and labour supply
Households behave differently depending on their wealth and debt, paper finds
BoE urges public to spend remaining paper banknotes
Paper £20 and £50 will cease to be legal tender next year
Bailey puzzles over UK labour market signals
A lot of people are still out of the labour market, but unemployment remains low
UK looks to boost long-term investing
Working group says action needed to encourage illiquid investing without risking instability
BoE cuts UK growth forecast
Inflation likely to stay above 4% for first half of 2022 amid supply constraints and energy squeeze – MPC
UK’s PRA ‘re-tooling’ for post-Brexit world – Woods
Chief executive says reform efforts complicated by hasty “on-shoring” of EU rules
Foreign vulnerabilities can affect domestic growth – BoE paper
Study of ‘GDP-at-risk’ shows financial factors overseas can lead to worse outcomes locally
FCA bolsters investor protection through new campaign
Regulator will become more “assertive and agile” to responding to investment fraud
People: SNB board appoints new member
Former Bank of Jamaica senior official appointed to lead financial services commission; Riksbank appoints acting head of corporate services; and more
BoE’s Hauser mulls future of central bank balance sheets
Balance sheets will be bigger but also more variable, executive director says
BoE permits cloud usage to support ISO 20022 migration
Cloud usage must be “controlled” and not risk wider payments ecosystem, BoE report says
Bank of England names new chief economist
Huw Pill is former ECB official and chief European economist for Goldman Sachs