United Kingdom
BoE officials reject criticism of forecast misses
Bailey says labour market dominates firms’ concerns and says Brexit has hampered economy
BoE paper finds U-shaped collateral impact from central clearing
Centrally clearing all derivatives trades does not necessarily free up the most collateral
Central bank assets enjoy ‘99%’ immunity
Why central bank assets possess legal immunity – but not from sanctions
Bank of England rate hike is largest in over 30 years
MPC forecasts prolonged downturn and says it does not foresee rates rising to 5.25%
‘Shouting on the phone’: BoE officials shed light on gilt market intervention
Crisis sparked by UK government’s plans needed unprecedented action, officials tell parliament
Bank of England to go ahead with QT
Central bank delays start of bond sales by one day to avoid fiscal announcement
Independence white paper outlines possible Scottish central bank
Proposals map out “the process of establishing a Scottish pound”
Report of delay to QT ‘inaccurate’, BoE says
Article says central bank is “expected to bow to investor pressure” for delay to asset sales
BoE ends bond purchases as government rolls back tax cuts
Gilt market rebounds as government axes most of its controversial ‘mini-budget’
Some CCPs struggle in BoE stress test
First central counterparty stress test finds firms come close to depleting their buffers in baseline scenario
BoE’s Pill says government must ‘respect’ independence
Government and central bank have clashed over causes of UK’s gilt market turmoil
BoE sticks to bond-buying deadline amid strains on UK non-banks
Bailey restates cut-off date for asset purchases despite spike in margin calls and redemptions
Asset sovereignty: a problem to stump Solomon
When states have rival governments, who owns central bank assets?
IMF publishes sober outlook for 2023
“Worst is yet to come”, says chief economist
BoE widens asset purchases as ‘dysfunction’ threatens again
Surge in gilt yields comes in final week of BoE’s “temporary” intervention
BoE prepares more market support as cliff edge looms
Central bank creates temporary repo facility with wider range of eligible collateral
The race to adopt ISO 20022 payments messaging
Some jurisdictions do not plan to adopt the protocol, while others are preparing for a disjointed implementation
BoE launches teaching resources for secondary school students
Few UK students study economics before age of 16 and schools are not required to teach finance
Gilt market shock ‘far exceeded’ historical price moves – BoE’s Cunliffe
“It might not be reasonable” to expect funds to insure against all extreme outcomes, deputy says
BoE emergency bond purchases drop to zero
Central bank had offered to buy £5 billion per day, but actual purchases have been much smaller
Charles III coins will circulate by end of year, says UK mint
New king will appear on 50 pence coin and commemorative issue
BoE becomes reluctant market-maker of last resort
Gilt market turmoil has again forced the BoE to intervene. Is there a better way?
Quantitative tightening: missed opportunities
Treasuries and central banks must think harder about balance sheet policies, says Philip Turner
BoE to buy bonds on ‘whatever scale is necessary’
Turmoil in gilt markets forces pension funds to dump assets to meet margin calls