United Kingdom
BoE's Martin Weale still unsure over Carney's forward guidance by consensus
Bank of England's forward guidance dissenter explains ongoing qualms over how forward guidance works at the BoE, as he is re-appointed to a second term
Canadian bonds more normal than US and UK equivalents at ZLB
Canadian sovereign debt yields are more responsive to shocks than UK and US equivalents at zero lower bound; differences diminish at shorter maturities
Canadian yields shown to be less sensitive to data shocks than US or UK
Working paper from the Dutch central bank shows that at the zero lower bound, Canadian government bond yields are less sensitive to surprising domestic data than US or UK equivalents
UK prepares for mobile payment apps
The Payments Council is launching a new mobile payments platform in the UK in 2014, and seminar participants discussed the challenges it will face
BoE’s Fisher happy to hold QE ‘in reserve’
Executive director says the ‘dramatic turnaround’ in economic data has alleviated the need for further asset purchases; insists the UK is not in the midst of a housing bubble
UK ‘Help to Buy' brought forward as data show housing market hotting up
Data out today show some UK housing indicators are back at pre-crisis levels; financial policy committee minutes are due out tomorrow, as government doubles down on ‘Help to Buy' scheme
HKMA’s Yue focuses on renminbi as China liberalises capital markets
Deputy chief executive Eddie Yue believes the renminbi will be ‘crucial’ in managing impact of China’s capital account liberalisation on global markets; hosts forum with UK government official
BoE appraises forward guidance as economy picks up
Bank of England MPC believes that market participants demonstrated an ‘increased understanding’ of the link between monetary policy and unemployment in the run up to its September meeting
Eastern Caribbean Central Bank takes over Anguilla’s largest two banks
ECCB steps in as banks’ capital positions deteriorate; Anguilla’s chief minister looks to the UK government for public and private investment in wider economy
BoE’s Weale votes against forward guidance
Martin Weale votes against guidance out of concern for medium-term inflation expectations, while MPC members remain divided over the prospect of more QE
Bank of England ties monetary policy to unemployment
MPC will not raise interest rates or unwind its asset purchases ‘at least until’ the unemployment rate falls below 7%; unlikely to happen within the next three years according to latest forecast
UK economy near escape velocity already, say ex-MPC members
Former BoE deputy governor John Gieve believes Mark Carney may use macro-prudential policy to boost the UK economy; Charles Goodhart argues ‘help to buy' scheme will promote lending to SMEs
BoE bows to persuasion as Austen proves banknotes not just a man’s field
English author will replace Charles Darwin on UK £10 note in 2017; campaign against central bank also yields review into the criteria used for character selection
UK government set to make electric ring fence ‘virtually useless'
Banking standards commission chairman Andrew Tyrie laments the government's departure from his commission's recommendations on leverage, Bank of England reform and the electrified ring fence
UK's FCA commits to active participation in designing European regulation
FCA chairman says the UK financial industry must take a pragmatic approach towards regulation from Brussels; MP Mark Garnier says regulation that is too complex can lead to ‘accountability firewalls'
Former BoE deputy to review RBS SME lending practices
Andrew Large will look into RBS group's lending practices in a bid to ensure more liquidity reaches UK businesses
Carney prioritises 'women on banknotes' issue
New Bank of England governor says issue of present and future female representation on banknotes is under discussion; pledges further public announcement by end of July
BoE MPC member says QE has worked, and exit need not cause turbulence
David Miles says opponents of QE are overly pessimistic, and research he has been conducting suggests it ‘might well be part of an optimal monetary policy strategy'
BoE and PBoC open ‘very important’ renminbi swap line
Bank of England and People’s Bank of China establish three-year 200 billion yuan swap line; fourth largest of its kind and first in European Union
Reckless bankers should face jail, says UK parliamentary report
UK Parliamentary Commission on Banking Standards delivers raft of recommendations on how to cultivate better responsibility among bankers, banks and their regulators
UK parliamentary review slams 'half-hearted' Bank of England reform
Parliamentary Commission on Banking Standards calls for overhaul of Court of Directors; dismisses central bank's Oversight Committee as ‘half-hearted at best'
UK Payments Council prepares 'roadmap' for reform
'Payments Roadmap' seeks to boost competition and innovation in UK payments, even as a government consultation leaves the future of the Payments Council in doubt
Parliament launches inquiry into independence of Bank of England’s FPC
Law-makers raise questions over independence of Financial Policy Committee; concerned by Osborne’s recent changes to its membership and remit
BoE reveals £300 million drop in FLS lending
Banks participating in FLS scheme reduced their net lending by £300 million in the first quarter of 2013; Bank of England predicts ‘gradual’ increase throughout year