United Kingdom
UK nearing top of rate cycle, Bailey says
MPC member Swati Dhingra says producer prices could herald rapid decline in headline figure
Financial regulators: one, two, maybe a few?
As Jamaica moves to introduce the ‘twin peaks’ approach to financial oversight, Ben Margulies assesses some of the pros and cons
Deep learning models are ‘fragile’, BoE paper finds
Models suffering from “Rashomon effect” need better supervision, authors say
People: July to September 2023
A round-up of central bankers in the news and on the move during the past three months
BoE study recommends ‘simple and flexible’ CBDC infrastructure
Central bank needs to be wary of firms wielding too much market power, author says
BoE researchers call for more advanced stress-testing techniques
Survey finds “great strides” in modelling but calls for greater complexity and feedback loops
UK debt risks likely to stay below historical peaks – BoE analysis
But firms are increasingly vulnerable to rising interest rates, economists find
BoE’s RTGS system goes down for nearly six hours
Database problem prevented high-value payment system from opening at usual time
Focus is needed on improving central bank forecasts
Charles Goodhart believes tougher action over forecasting errors is preferable to policy-maker performance-related pay
BoE paper analyses banks’ forecasting accuracy
Banks with better governance, including more senior women, make better predictions, authors find
BoE enters new phase of data transformation project
Team is now developing options to address challenges identified in phase one
BoE raises rate 25bp as ‘mixed’ data clouds outlook
“I don’t think it is time to declare it is all over,” Bailey says
The financial sanctions maze
Anyone affected by Russia-related sanctions knows patience and caution are strongly advised, writes Richard Heckinger
Bernanke to lead BoE review of inflation forecasting
Former Federal Reserve chair will work with Bank of England officials
Fed fines Deutsche Bank $186.4 million for AML violations
German lender failed to comply with earlier orders and was involved in Danske Bank scandal
UK inflation falls to 7.9%
Drop exceeds Reuters poll prediction, but headline rate still almost four times target
UK committee claims China may have ‘engineered’ AIIB job
Legislators say China gave jobs to Alexander, Cameron and others to gain influence
BoE stress tests find banks resilient to interest rate risk
Credit impairments drive majority of losses, but all banks pass test
Currency round-up: New yen banknotes to arrive in July 2024
De La Rue outlook brightens; Egypt continues transition to polymer; and more
Inflation expectations unreliable guide to policy – BoE’s Tenreyro
Policy-makers would be “unwise” to use expectations as an intermediate target, MPC member says
BoE proposes ‘Solvency UK’ insurance reforms
Government overruled central bank on tightening a key element of the rules
Policy has not been tight long enough – governors
Hot labour markets boost wages and core inflation, making inflation persistent
A letter to Andrew Bailey
As the Bank of England struggles to bring inflation down, Jagjit Chadha warns the governor not to let markets take control
BoE makes surprise 50bp rate increase
Central bank to review modelling framework after repeated forecast errors