United Kingdom
Rise in UK services inflation curbs bets on BoE rate cut
CPI flat overall, but economists say uptick in core and services numbers likely to make policy-makers pause
BoE’s revised Basel III plans will be ‘welcomed by industry’
Banks will breathe “sigh of relief” over less stringent proposals, say experts
BoE and bond vigilantes ‘not responsible for 2022 gilts crisis’
Ex-bank official rejects former PM’s claims that LDIs were primary cause of yield spike
BoE calls for wider research into operational resilience
Most studies have focused on cyber attacks, though UK has been hit by varying types of incidents
Bailey highlights key challenges to central banking orthodoxy
BoE governor says focus on financial stability remains key during “Covid-Ukraine era”
Greedflation, if it ever existed, is correcting itself
Steve Kamin constructs a “wage gap” to assess inflationary pressures in the US
Public sector pay rises ‘will not drive UK inflation’
Former BoE deputy governor says wage agreements’ impact on private sector prices is likely to be limited
UK CPI up less than expected as services inflation falls
Figures may help allay concerns over persistent wage pressures
Sovereign debt in default fell by 1% in 2023 – BoC study
Research finds shift in lending away from Paris Club creditors towards China
Major UK banks better placed for resolution, says BoE
Central bank publishes new assessment on institutions’ resolvability in the event of failure
Bank of England cuts rates for first time since 2020
MPC votes for 25bp reduction in split decision after Fed opts to hold
Innovate to defend status of central bank money, says BoE
Bank “exploring options” to widen access to settlement
Hedge funds and dealers have outsized price impact – BoE paper
Mutual funds have smaller impact so may not play central role in fire sales, authors say
Firms’ prices respond rapidly to CPI data – BoE study
Companies are more sensitive to rises in inflation than to falls
BoE to open non-bank emergency facility in Q4
Central bank working “at pace” to deliver facility, as it publishes provisional design
Long-term repo set for bigger role in BoE operations
Executive director Victoria Saporta outlines “major change in operating practice”
Macro-prudential announcements cut systemic risk, paper finds
BoE paper says unexpected changes that tighten policy are effective
BoE’s high-value payment system hit by ‘global payments issue’
Settlement of some payments delayed after problem originating with Swift; ECB delays closure of Target systems
Banks not fully prepared for repo risks – BoE’s Benjamin
Margining practices fail to account for “jumps to illiquidity”, executive director says
BoE economists hunt ‘driving forces’ of forecast errors
“Systematic” study of mistakes finds wage growth and expectations could have been modelled better
BoE should hold rates until pressures have eased, Haskel says
Changes to labour market estimates helped shift policy decisions, MPC member says
New NBER research sheds light on ‘cheapflation’
Savings from price discounts partially offset by price hikes for cheaper products
Bank of England holds rates as services inflation lingers
“We need to be sure that inflation will stay low,” governor Andrew Bailey says
UK inflation touches BoE’s target
Alignment with goal expected to be short lived but opens door to rate cuts later in year