Bank of England (BoE)
FCA to gain new powers to tackle ‘tough legacy’ issues in Libor transition
Untangling complex legacy issues is looking increasingly difficult as delays mount due to Covid-19
BoE admits bond holdings are contributing to climate change
UK central bank’s bond portfolio is out of step with international climate goals but differences in calculations makes it challenging to quantify
People: Nikhil Rathi appointed UK FCA chief
Stock exchange boss to take helm at regulator; new member of BoE committee named; Poloz to chair think-tank; Bank of Canada seeks CBDC project lead
BoE apologises for former officials’ links to slave trade
Central bank says it was never directly involved in slavery, but former governors were
BoE expands asset purchases by £100 billion
Haldane casts sole vote against expansion as ex-MPC member Sentance warns of “autopilot”
Should the BoE go negative?
Much research into negative rates suggests central banks should have little to fear, but there are plenty of caveats
CBDC development pushed into ‘top gear’ by Covid – policy-makers
The pandemic will have a lasting impact on consumer payment behaviour, panellists say
BoE launches new education progamme for children
UK central bank broadens financial literacy campaign with second programme for schools
UK GDP growth plunges to -20% in April
Figure is worst on record, but may be somewhat better than earlier official estimates
People: Former BoC governor Poloz joins board of energy firm
Stephen Poloz joins the board of Canadian pipeline firm Enbridge; Haldane gets third time on Bank of England MPC; Bank of Israel director general steps down; and more
Balance sheets could grow by 23% of GDP in largest advanced economies – BIS
Economists forecast balance sheets will remain large for the foreseeable future
BoE’s Cunliffe: central banks must consider market liquidity backstop
Markets weathered the first phase of the Covid-19 crisis, but not without support, deputy notes
Cost of Mark Carney’s leaving gifts revealed
Former governor’s gifts appear small in comparison with predecessor Mervyn King, as Covid-19 prevents leaving party from occurring
Football stadiums to airlines: BoE reveals commercial paper holdings
Central bank has taken on exposures to a wide range of businesses – including polluters
BoE paper: narratives can help overcome ‘radical uncertainty’
Speaking directly to the public can improve analysis and communication of policy, authors find
BoE’s Hauser: Covid-19 forced “largest and fastest” actions ever
Executive director gives blow-by-blow account of how the BoE tackled the Covid-19 crisis in the markets
Central banking enters a new era
Central banks face a delicate balancing act to preserve their reputations as they evolve into ‘buyers of last resort’ and some of their actions appear functionally equivalent to ‘monetary financing’
BoE urges banks to ramp up no-deal Brexit preparations
Brexit risks are resurfacing as trade talks remain deadlocked
Stress levels rising: investment funds and the Covid-19 shock
Extreme market stresses due to Covid-19 are underscoring the central role non-banks play in crisis contagion, as in 2008. Were regulators better prepared this time?
BoE paper explores global financial cycles since 1880
Cycles in credit and housing have become more pronounced, but only for some economies
Minutes highlight scale of BoE’s Covid-19 redeployment
Some staff were overwhelmed with work while others had little to do
BoE paper: mining newspaper text can boost forecasts
Authors design “powerful new method” of incorporating text information into macroeconomic forecasts
Book notes: Central banking before 1800, by Ulrich Bindseil
A new standard reference point for the history of central banking
Venezuela sues Bank of England over refusal to release gold
Authorities say they need $1 billion to fund response to Covid-19 crisis