Bank of England (BoE)
IT failures reveal vulnerabilities in UK banking system
Barclays and NatWest are latest victims of internal failure
Reserve management practices are splintering
Traditional approaches to reserves management are breaking down, writes Jennifer Johnson-Calari
Haldane: ‘superforecasters’ could help central banks
Non-experts could help solve difficult problems for central banks, says Andy Haldane
Carney says UK prepared for multiple Brexit outcomes
The BoE’s stress tests have become more rigorous amid rising concerns of possible Brexit scenarios
BoE on hold as forecasts ‘broadly on track’
Future rate hikes likely if economy develops in line with projections
Book notes: The other half of macroeconomics, by Richard Koo
Richard Koo questions whether central bank policy can work during a balance sheet recession, writes Graham Bannock
Carney agrees seven-month extension to term
BoE governor continues to avoid full eight-year term laid out in the central bank law; Jon Cunliffe also reappointed
‘Hyman Minsky was right’ – Don Kohn
Macro-prudential policy should mitigate crisis risks, but needs to be well communicated, says Bank of England policy-maker
Central banks could do more to tackle climate change – paper
Central banks may be mispricing assets due to climate change risk, paper argues
Carney warns no-deal Brexit would squeeze real income
Governor informs Treasury Committee of household “real income squeeze” in the event of a no-deal Brexit; Mervyn King calls government’s Brexit preparations “incompetent”
BoE study finds ‘relatable’ communications boost trust and understanding
Communications that are relatable to people’s lives work best, behavioural experiment finds
Carney signals ‘willingness’ to stay at BoE
Governor implies he is “willing” to serve another year, though decision falls to Treasury
The Bank of England’s missing records
Central banks need to implement robust archiving frameworks, should they want to maintain public trust and learn from the lessons of the past, writes former Bank of England official historian Forrest Capie
Time running out for EU Brexit temporary permissions regime
UK clearing houses may need to eject EU member positions if BoE scheme is not reciprocated by year-end
‘Stochastic lower bound’ impacts inflation – BoE paper
Assuming the lower bound is fixed might be unrealistic, authors say
Published rate path has similar effect to other communication – BIS study
Communication is important, but the “exact form” less so, according to research
Global crisis uncertainty harmed investment – BoE paper
Authors say their results offer a benchmark for possible Brexit-related uncertainty
Haldane: market power puzzle is important for policy
Micro and macro evidence “not easily reconciled”, says BoE chief economist, but market power could have major impact on inflation
Removing low-denomination coins not inflationary - BoE research
Rounding would be applied to total bill and not individual items, paper argues
People: Chinese and Turkish central banks each gain new deputy governors
Bank of England director to lead Irish central bank financial stability department; and more
Bank of England mulls synchronised settlement for new RTGS
Adding new functionality could reduce cost and risks for RTGS participants, BoE says
The battle for cyber resilience
The cyber attack on Bangladesh Bank prompted central banks around the world to change their approach and refocus on contingency planning, but are they ready now?
Podcast: David Hendry and John Muellbauer on empirical macro
The econometricians cast a sceptical eye over DSGE models and weigh up some alternatives
Non-linear mortgage features can impact policymaking – BoE paper
Non-linear features of mortgages impact policymaking in a DSGE model, the authors find