United Kingdom
Moody’s alters sovereign debt ratings of nine EU countries
Austria, France and the UK see outlooks on Aaa ratings changed to negative; Spain and five other countries’ ratings are downgraded
BoE’s King explains continuing high inflation
Mervyn King writes to chancellor of the exchequer explaining why inflation remains above target; despite 0.6% drop in rate since December, governor must offer reasons for missed target
BoE boosts QE by £50 billion
Bank of England increases the size of its Asset Purchase Programme to £325 billion as forecasts show inflation in the UK is likely to undershoot its target in the medium term
BoE’s Salmon urges regulators to resist watering down reforms
Bank of England executive director Chris Salmon says regulators must withstand pressure to water down reforms and instead provide longer transition periods
Heightened uncertainty promoted precautionary savings post-crisis, says IMF paper
Fund study says precautionary motives promoted households in advanced economies to significantly increase savings following the global financial crisis
Queen's portraits from banknotes and coins to appear on stamps
New stamps issued to celebrate the Queen’s diamond jubilee; first time the official portraits from banknotes, coins and stamps have been brought together
FSA chief hails new twin peaks approach to regulation
Financial Services Authority head Hector Sants says approach to supervision of banks in the UK will be more proactive and judgement-based; warns of 'tick box' approach to regulation in Europe
Central Bank of Iceland paper highlights limitations of inflation indexed bonds
Central Bank of Iceland study shows inflation index-linked bonds in US, UK and Iceland are unreliable measures of the real interest rate
UK lending weakens for second successive month, says BoE data
Bank of England data on Lending to Individuals shows marked slowdown in lending to consumers in December, but small rise in loans issued to household
BoE report captures impact of QE policy
Bank of England’s Asset Purchase Facility report shows government bond yields and market spreads eased as a result of the central bank’s stimulus measures
UK government publishes Financial Services Bill
New legislation to fundamentally change financial regulation in the UK; fears raised that the important issue of the accountability of the Bank of England has not been addressed fully
CB.com poll result says eurozone break-up comments are not irresponsible
CentralBanking.com poll shows majority of participants believe non-eurozone central bankers are not acting recklessly by commenting on a possible break-up of the euro
Central bankers gather in Davos for World Economic Forum
Central banking is a hot topic at this year's World Economic Forum; attendees of the event discuss issues in Russia, Poland, China and more
David Miles retains seat on UK Monetary Policy Committee
David Miles re-appointed as an external member of the MPC; new term to run until 2012
Ingves targets domestic Sifis with tougher capital rules
Basel Committee chairman Stefan Ingves says all institutions whose disorderly distress or failure could trigger a systemic crisis should be subject to additional capital requirements
BoE reports challenging wholesale market conditions
Bank of England January Trends in Lending report shows longer-term wholesale funding markets in the UK are freezing up
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