United Kingdom
Deflationary risks could be a long-term trend, says BoE’s Posen
Bank of England Monetary Policy Committee external member Adam Posen warns deflation is likely to be a more frequent problem for policy-makers moving forward
BoE rejects proposals to revamp court
Bank of England dismisses Treasury Select Committee’s recommendations to replace its court with a new supervisory board; proposes establishment of new Oversight Committee for financial stability
Central Bank Directory highlights rise in female central bank governors
Four new female governors takes worldwide total to 12; Central Bank Directory also notes 4.1% increase in central bank staff in European Union
Norges Bank paper on central bank independence in the post-war era
Norges Bank case study shows central banks in the UK and Sweden had a higher degree of operational independence than Norway, despite its legal autonomy from government
Central Bank of Barbados warns of weakness in tourism industry
Central Bank of Barbados Economic Review says tourists vacationing on the island are spending less despite an increase in arrivals
BoE data shows moderate rise in UK lending
Bank of England data shows lending to individuals in UK increased by £1 billion in November
ECB paper identifies challenges to creating resolution regimes
European Central Bank study compares legal aspects of bank resolution regimes in the UK and Germany
BoE minutes leaves option open for additional stimulus
Bank of England minutes shows MPC members believe further quantitative easing may become warranted as economic outlook deteriorates
Banking structure reform gets go ahead from British government
UK government lays down plans to incorporate Independent Commission on Banking recommendations into law; process to begin next year
Bank consults on instruments of macroprudential policy
Bank of England releases discussion paper to gather feedback on possible tools for macroprudential policy management
UN and US lift sanctions on Libyan central bank
UN Security Council and US government announce removal of sanctions on Central Bank of Libya's assets
BoE Quarterly Bulletin reports market deterioration
Bank of England Q4 report notes financial market sentiment and functioning decline since last bulletin
Noyer blasts ratings agencies on Twitter
Banque de France verified Twitter page publishes stream of comments from governor Christian Noyer; criticises credit ratings agencies and slams UK economic performance
European uncertainty reflected in central bank decisions worldwide
Germany, Austria, India and South Korea lower growth estimates as a slew of countries hold interest rates; world looks on and waits to see if Europe can agree a solution to the sovereign debt crisis
Osborne to drive through BoE’s new supervisory powers
UK chancellor wants to drive through legislation granting the Bank of England statutory power for prudential supervision; ring-fencing left out of Financial Services Bill
Change to Japan clearing mandate ends LCH-JSCC talks
A decision to limit the scope of Japan's clearing mandate has torpedoed months of partnership talks between LCH.Clearnet and the Japan Securities Clearing Corporation
Bank of England selects new chief for Special Resolution Unit
Andrew Gracie returns to Bank of England to lead special resolution unit; takes over later this month
BoE unveils gloomy Financial Stability Report
Bank of England Financial Stability Report demands banks boost capital levels; King says he initiated talks of co-ordinated swap line action with central banks around the world
UK banks lament costs of ring-fencing operations
House of Lords Economic Affairs Committee report shows UK’s biggest banks believe recommendations to ring-fence retail operations underestimate costs of reform but agree measures are a “done deal”
UK government launches separate easing programme
Bank of England agrees to reduce the maximum size of its Asset Purchase Facility to make way for government’s new credit easing programme; settles dispute over bolstering lending to SMEs
UK lending conditions remain sluggish: BoE data
Bank of England Trends in Lending data shows net lending in UK continued to decline in October, albeit at a slower pace
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
FSA’s Bailey calls on banks to plan for eurozone break-up
Banks must prepare for the "disorderly departure of some countries from the eurozone", says Andrew Bailey
Ex-MPC member says BoE wrong to delay on QE
Former Bank of England external member Sushil Wadhwani disagrees with current rate-setter Martin Weale over when to provide additional stimulus to UK economy