United Kingdom
BoE seeks balance in regulating financial innovation
Prudential supervisor outlines hands-off approach for AI but tight rules for crypto
BoE analysis sparks debate over reuse of repo collateral
Central bank policy analyst contends reuse of collateral may amplify volatility in repo rates
Liquidity is king for risk and reserve managers – panel
Short-term market moves cannot determine asset allocation, central bankers say
Political party calls on BoE to stop paying interest on banks’ reserves
Former bank official says Reform UK’s proposal would amount to unacceptable “breach of faith”
BoE makes subtle leverage snipe at CCP cross-margining
Margin offsets might increase risk, but could also encourage more central clearing
Forecasting and narratives under uncertainty
Jagjit Chadha argues the Bank of England should deploy better analysis as the basis for clear communication under uncertainty
People: April to June 2025
A round-up of central bankers in the news and on the move during the past three months
BoE governor calls for closer ties between UK and EU
Bailey says Brexit’s negative effects on trade need to be minimised
IMF officials call for central clearing of sovereign bonds
“More work needed” to enhance structural resilience in core markets, researchers say
Maurice Obstfeld on the trade war’s damage to the monetary system
The former IMF chief economist speaks about Trump’s chaotic economic policies, the erosion of Fed independence and dollar stability, difficult policy trade-offs for central banks, and the threat to the Bretton Woods institutions
NY Fed and BIS explore monetary policy in a tokenised world
Project Pine’s smart contracts are designed so central banks can adapt them to their currencies and frameworks
BoE to consult on promoting clearing for gilt repo market
Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting
BoE’s mandate may be too broad, warns Mervyn King
Former governor chats with Paul Tucker on independence and central banks’ optimal remit
Ex-BoE official calls for active monetary response to gilt shocks
Clear framework needed to address government bond market volatility, Sushil Wadhwani argues
BoE governor gives optimistic forecast about scenario approach
Bailey says new method allows for better projections, given growing frequency of ‘black swans’
Bank of England cuts rates to 4.25% as disinflation continues
Effects of US tariffs on growth will be smaller in UK than elsewhere, central bank says
De La Rue completes sale of authentication division
Banknote maker to focus exclusively on currency business
Pension funds hesitate over BoE’s buy-side repo facility
Reduced leveraged and documentation ‘faff’ curb appetite for central bank’s gilt liquidity lifeline
BoE raises expectations for climate risk analysis by firms
David Bailey says banks and insurers need to use climate modelling to manage risk
UK government ‘must act against decline in cash acceptance’
Parliamentary committee suggests firms could be made to accept cash to protect those who rely on it
Next phase of BoE RTGS project aims for atomic settlement
New platform settled £778 billion on first day of operation, deputy governor says
BoE’s RTGS service update goes live
Renewal expands access to payments infrastructure, with increased focus on cyber resilience
Market turmoil causes BoE to reschedule long-dated bond sale
Change to QT plan comes after tariff uncertainty triggers surge in UK government bond yields
Trade fragmentation could depress growth – BoE
Volatility has increased “significantly” though market functioning remains “orderly”, FPC says