Bank of England (BoE)
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
BoE paper lays foundation for ‘system-wide stress test’
Economists develop framework linking banks, investment funds and hedge funds
Bailey confirms BoE is considering negative rates
“I have changed my position a bit,” governor tells lawmakers, as UK inflation falls drastically
UK issues negative-yielding bond as inflation wilts
Inflation dropped sharply in April amid the coronavirus lockdown
Pressure builds on central banks to ‘monetise’ sovereign debt
Sarb is the latest institution facing calls to directly purchase Covid-19 related government debt
Economists race to merge epidemiology and macro
Promising results are emerging, but workable forecasts may be some way off
ECB widens scope of female recruitment targets
Central bank’s efforts to recruit women will now reach down past senior roles
BoE predicts sharp fall and fast recovery for UK
Forecasters predict limited long-term scarring from virus shock; banks are in strong position to lend, stress test finds
UK statisticians turn to online prices to cope with Covid-19 lockdown
Around 80% of prices are usually collected in person, forcing rethink of data gathering approach
BoE eases funding terms as government launches ‘bounce back’ loans
Loans will be excluded from leverage ratio calculations
Debts, deficits, central banks and inflation
Forrest Capie and Geoffrey Wood ask what insights history can provide for central banks and governments managing abrupt, large increases in debt
People: Sandra Boss quits BoE roles to join BlackRock
Prudential committee member to join asset manager; Coeuré to head committee on Covid-19; State Bank of Vietnam appoints new director-general
BoE paper argues for heterogeneous agent modelling
Authors use heterogeneous agent model to study fiscal policy and redistribution
BoE’s Proudman recommends data-gathering rethink
“Pull” model would be “revolutionary” but might come at too great a cost, official says
FedNow: the road to non-bank access to US instant payments
Debate over granting non-banks access to Fed systems reveals possible flaws in US regulation
BoE moves to renewable energy
Bank of England says it has already beaten its 2016 target for carbon dioxide reduction
BoE and ECB weigh calls to follow US lead on capital relief
European regulators face pressure to exempt sovereign exposures from the leverage ratio
Global carbon taxes are coming: central banks must prepare
The next financial crisis could be a green one. Are central banks doing enough to prepare?
Bank of England to lend directly to government
Central bank agrees temporary expansion of “Ways and Means” facility
People: Sarb and BoE renew senior appointments
Senior Sarb and BoE officials receive new terms; MAS picks new assistant managing director; ECB appoints director; William Dudley takes consulting job
BoE poll signals convertibility is key to CBDC demand
CBDC does not need to be built on DLT network, BoE says