United Kingdom
Competition strengthens banks close to insolvency – BoE paper
Competition policy’s impact on banks varies depending on the underlying health of the individual firms, BoE paper says
FPC better equipped for crisis than FSOC – BoE paper
Paper compares how macro-prudential regulators in UK and US would handle a 2008-style crisis
BoE mulls post-QE balance sheet policy
Central bank is “minded” to retain its floor system for setting rates, but demand for reserves is an unknown quantity
Book notes: Till Time’s Last Sand, by David Kynaston
Kynaston allows readers to develop their own understanding of how the BoE has had to refind its place in a country where the political system has migrated from commercial republic to full-franchise democracy
Bank of England forms new enforcement committee
Six-member committee will rule on contested enforcement cases
BoE updates estimate of equilibrium interest rates
Latest data shows demographic factors have weighed heavily on real interest rates
BoE lifts rates despite signs of a global weakening
MPC votes unanimously to raise rates to 0.75%
BoE paper tests bond market ‘liquidity resilience’
Study of gilt futures draws on novel dataset to assess stability risks
Podcast: LSE’s Ilka Gleibs discusses the psychology behind diversity
LSE professor discusses why people need to stop blaming women’s behaviour for a lack of diversity within economics and central banking
BoE paper uses millions of job adverts to understand labour market
Researchers analysed 15 million adverts over eight years to categorise jobs
IMF warns of global risks from US fiscal expansion
Faster policy tightening by Fed could harm emerging economies, Obstfeld says
Bank of England poised for hike despite weak data
Economists still expect a raise in interest rates when the MPC meets next week
Labour reallocation explains productivity puzzle – BoE paper
Methodological innovation helps solve data-quality issues, author says
UK regulators welcome Brexit ‘back-stop’ legislation
Draft law would allow firms temporary access to UK markets in event of ‘hard’ Brexit
UK ATM network backtracks on interchange fee hikes
Consumers turn to cash alternatives “quicker than expected”
Bank of England experiment tests RTGS with DLT in mind
DLT proof-of-concept participants suggest implementing “cryptographic-proof” model
EU negotiator questions UK’s approach to post-Brexit regulation
Chief negotiator Michel Barnier said to express strong doubts over UK approach in private meeting
BoE paper proposes composite measures to communicate UK financial stability
Authors aggregate indicators of financial stability into measures that could improve public communications
Post-Brexit regulation must avoid ‘race to the bottom’ - FCA official
UK and EU negotiators must aim for customer protection and open markets, says Delfas
Carney: Brexit could trigger ‘extreme fragmentation’ of EU markets
Lack of agreement on derivatives likely to be more costly for European markets than UK ones, BoE governor says; stance contrasts sharply with European Commission
Podcast: David Vines on how to reform the DSGE model
Oxford University’s David Vines believes the New Keynesian DSGE model is salvageable – but needs some serious work
FCA’s Bailey stresses need for Libor backstop
Chief executive warns firms the end of Libor is not a “black swan” event, but a certainty, as contracts referencing the benchmark continue to grow
BoE’s Cunliffe makes case for ‘stodgy’ policy
Monetary policymakers should not act too fast when uncertainty is high, deputy governor says
BoE minority staff score lower in first diversity survey
While BAME scores were lower, the central bank said staff were “generally positive” about inclusiveness