Brexit
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
Q&A: Asia’s caught in the Basel crossfire – Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets
“What would Allan say?”
Central Banking Publications founder Robert Pringle finds pearls of wisdom in his email correspondence with the late Allan Meltzer
Moody’s upgrades UK banking sector on improved capital positions
Banks' funding costs have declined and insurance against bank defaults is at its lowest since the financial crisis, while capital buffers have increased
Brexit drives a wedge between BoE and markets
Market expectations of future UK interest rates appear out of line with views expressed by the Bank of England’s Monetary Policy Committee. It comes at a time when Brexit ‘news’ often trumps economic data
UK banking sector faces higher costs after Brexit, report warns
Banks intend to minimise initial impact of Brexit in operations, but may be forced to move more personnel over time to maintain proximity to clients
BoE’s Broadbent: globalisation has been largely a good thing
Bank of England deputy says flexible labour market has helped dull the pain of adjustment to trade shocks, while lower prices have most benefited the poorest groups
Any London forex trading move would be ‘gradual’ – ECB
City’s place in global submarine cable network is likely to be key, researcher says
Brexit should not lead to restrictions on financial trade – FCA’s Bailey
If UK and EU work hard to maintain similar regulations, Brexit need not lead to restrictions on open markets and free trade, says FCA chief executive
Commission’s CCP powers ‘might not lead to exodus from UK’
US regulation of CCPs provides a “plausible template” for the eurozone, says commentator
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
BoE ups capital buffers as consumer credit outstrips income
“Pockets of risk” including effects of Brexit negotiations and car finance warrant attention, BoE says, though it stresses overall stability threats are at “normal” levels
ECB requests powers to regulate CCPs
Brexit heightens concern over importance of central counterparties
BoE’s Forbes points to bias among overworked MPC members
Senior Bank of England officials are overworked and heavily scrutinised, which may make it harder for them to take tough decisions, Kristin Forbes says in her final speech as an MPC member
BoE’s Haldane examines changing nature of work
Rise of “gig economy” and self-employment may have weakened wage-setting power among workers, the BoE chief economist says; he indicates a willingness to vote for a hike later this year
Irish central bank renews Brexit warnings
Rapid house price rise fuelled by scarcity, Central Bank of Ireland says
UK election roundup: all eyes on Brexit negotiations
Economists react as UK vote delivers a hung parliament, casting doubt on the way forward with Brexit negotiations and causing a drop in the pound
Book notes: Crash Bang Wallop, by Iain Martin
A comprehensive study of the City of London and how it became the world’s leading financial centre prior to the financial crisis and the UK’s vote to leave the European Union
Tackling the ‘human agency’ problem
Central banks are readying their communication strategies to mitigate a populist backlash against their post-crisis policies
Lautenschläger warns of ‘fragmented’ regulation in eurozone
Regulators should have powers over investment companies, ECB official says
IMF remains gloomy on Brexit as UK heads for snap election
Maurice Obstfeld admits IMF was overly pessimistic on consumer response to Brexit, but says supply shock could still bite; global outlook more positive
Reserve managers see politics shaping currency allocations
European political uncertainty weakens confidence in euro, with sterling pressured by Brexit; dollar’s popularity resurgent, despite Trump’s economic policies
Brexit will be ‘litmus test’ for global system – Carney
Global financial system has reached “fork in the road”, says Bank of England governor; UK financial firms told to submit robust set of Brexit contingency plans by July
Senior central bank officials defend globalisation
Dombret and Mminele argue against the idea that globalisation is causing high unemployment and low growth, while stressing the negative impacts of protectionist trade policies