United Kingdom
Information impacts dealers’ behaviour in crises – BoE paper
“Information chasing” helps explain how prices are set during liquidity shocks, authors say
Stress-test findings should be combined – BoE’s Benjamin
Bank’s director of financial stability strategy emphasises importance of “joining the dots”
BoE publishes design blueprint of digital pound
“No decision has been made” on whether to proceed with retail CBDC, central bank emphasises
BoE study suggests policy can affect inflation expectations
However, many households still have theoretically “wrong” idea about effects of tightening
The UK is not suffering another Truss shock
The increase in gilt yields is a long way from the turmoil of 2022, writes Jagjit Chadha. But it does highlight flaws in the use of fiscal rules
Banknote provider De La Rue mulls full takeover offer
Edi Truell-backed companies drop bid for 40% stake and go all-in instead
BoE’s new research agenda adds focus on balance sheet
Three-year plan responds to inflation surge, market turmoil and changed mandates
Refinancing at higher rates might not cut consumption – BoE paper
Homeowners’ ability to modify loan terms could weaken monetary policy transmission, study finds
Forbearance does not always lead to ‘zombification’ – BoE paper
Well-designed policies can support firms through temporary periods of stress, researchers find
BoE holds rates as UK inflation hits eight-month high
Decision closer than expected as members unsure about implications of government budget
Phillips curve is convex in short term – NBER paper
Data on US and UK shows firms respond more to positive than negative demand shocks
BoE’s non-bank liquidity facility to open for applications in 2025
Other central banks have shown “lots of interest”, says deputy governor
BoE reveals details of ‘repo-led’ operations
Bank to offer more liquidity via longer-term facility but retain “variable price, variable size” format
BoE to reduce frequency of stress tests on major UK banks
Large-scale exercise will now be conducted every other year instead of every year
BoE stress test highlights liquidity risks in non-banks
“First-of-its-kind” scenario exercise reveals how repo financing could be insufficient during shocks
Imported inflation waning but still present – BoE’s Dhingra
MPC member tells panel that another energy shock could still trigger renewed price hikes in UK
Economists urge BoE to be more transparent on rate paths
Value of scenario analysis depends heavily on revealing reaction function, speakers say
Uncertainty is the only sure thing – BoE’s Lombardelli
Deputy governor says bank will use scenario planning to communicate uncertainty during volatility
UK inflation could stay closer to 2% than forecast – BoE deputy
Dave Ramsden presents evidence that disinflation could continue its recent trend
Fake it ’til you break it: the battle against disinformation
Transparency, beefed-up comms and AI are all being enlisted in central banks’ fight against falsehood
Bailey: UK must stay open for business
BoE governor calls for bridges to be built with EU countries and others