United Kingdom
BoE’s Haldane warns against ‘complacency’ on inflation
Chief economist says uncertainty is high but risks are “skewed to the upside”
BoE unveils plan to ‘transform’ data collection
Decade-long effort to overhaul data standards and methods of reporting
Covid-19 highlighted machine learning model limits – BoE research
Economic downturn could not have been forecast on the basis of data alone, BoE says
Adding QE can fix New Keynesian models – BoE paper
“Mild adjustments” to balance sheet are enough to avoid paradoxical results, authors find
Carney takes job on Stripe board
Former BoE governor adds role at fintech firm to growing portfolio of positions
Inflation climbs in UK and Canada
Headline figures increased year on year by 0.7% in the UK and 1% in Canada
BoE may diverge from EU on software as capital
PRA opens consultation after Bailey says there is no evidence software assets should count as capital
Shadow banks play key role in business cycle – BoE paper
Contraction in securitisation can spill into wider credit conditions, researchers say
Paper finds little evidence of long-term scarring
Richmond Fed research finds short-term demand shocks rarely create hysteresis
Fed’s 2021 stress test includes major asset price shock
CCAR will evaluate 19 largest banks; scenario includes 55% fall in equity prices
Covid-19 has weakened UK households’ finances – FCA survey
Over 13 million adults will ‘struggle to make ends meet’, new survey says
Book notes: The political economy of the special relationship, by Jeremy Green
Unsatisfactory story about the decline and resurgence of the UK’s importance in the global financial system
People: BoE’s executive director to leave
Alex Brazier to leave BoE in September; ECB looks for senior climate official
Andrew Bailey attacks European Union over regulations
EU risks regional dispute as it holds UK to standard applied to ‘no other country’ – BoE governor
Judge questions Bailey’s account of LCF investigation
Elizabeth Gloster rejects BoE governor’s claim of a “misunderstanding” over his role
Bailey hits back at critics in new hearing on LCF scandal
“I am quite angry”, says BoE governor, as he denies accusation of cover-up
UK’s New Payment Architecture brings ‘unacceptably high risks’ – regulator
Payments regulator warns new platform may be too costly and could quash competition
Bailey defends BoE’s independence
Claims that buying government debt threatens independence are “entirely without merit”, governor says
BoE tells firms to prepare for negative rates
Preparation is not a signal that negative policy rates will be adopted, Bailey stresses
BoE paper seeks origin of systemic risk
Network analysis tool can overcome problems with other approaches, authors say
FCA urges UK banks to postpone branch closures
Closures during pandemic could have “significant consequences” for consumers, FCA warns
Central clearing proved resilient in ‘dash for cash’ – BoE’s Segal-Knowles
Challenge now is to “sustain and strengthen” the system, says executive director
BoE paper explores macroeconomic impact of macro-pru
Authors build DSGE model featuring “detailed banking sector” and sticky interest rates
BoE scolded for carbon-heavy investments
Parliamentary committee says current bond buying undermines “diplomatic leadership” on climate change