United Kingdom
People: UK appoints Bank of England MPC member
India names two RBI executive directors; Chilean vice-president to chair Irving Fisher Committee
BoE paper models macro-prudential spillovers
Agent-based model sheds light on how housing market policies affect different groups, authors say
BoE backs cut to insurers’ capital requirements
Post-Brexit move to ease regulations requires tightening of some other rules, central bank says
BoE’s Woods envisages radically simplified capital regime
Prudential regulation head sketches simplified Basel III alternative
BoE paper finds benefits from swing pricing
Cost-benefit analysis suggests net benefit to curbing non-bank liquidity risk through swing pricing
UK faces possible inflation ‘ratchet’ – BoE’s Mann
MPC member says shocks to UK economy have “piled on top of each other”
UK inflation climbs to 7%
Rapid rise in fuel prices pushes inflation to new 30-year high
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Book notes: Cogs and monsters, by Diane Coyle
Coyle brings much-needed nuance to the debate over the shortcomings of economics
UK authorities investigating LME over nickel trading suspension
Regulators to probe governance at the metals exchange after “disorderly” conditions halted trading
BoE’s Cleland calls for innovation in wholesale payments
Wholesale payments suffer from inefficiencies despite being critical to financial stability, official says
BoE’s Broadbent highlights perils of forward guidance
Deputy governor warns conditional guidance is often viewed as a promise to act in a certain way
Central banks ‘behind the curve’ on inflation, warns Goodhart
Charles Goodhart says stagflation is the most likely outcome in the coming years
Systemic stablecoins may not need ‘bank-style’ resolution – BoE
Non-bank stablecoins set for “tailored” regulatory regime under plans by UK policy-makers
Governor salaries range as high as $1 million
Base pay tends to rise with GDP per capita, but there is wide variation, benchmark data shows
Bank of England raises policy rate to 0.75%
Energy price shocks could push headline inflation higher than previously forecast, BoE says
UK regulators warn crypto firms not to breach sanctions
Crypto asset firms risk breaking law if they fail to enforce sanctions on Russia
CCP collateral regulation could limit procyclicality – BoE paper
Requiring CCPs to reinvest cash collateral can help reduce procyclicality during stress, authors find
‘Financial concerns’ impact consumption – BoE paper
Households with financial worries have a higher marginal propensity to consume, survey shows
BoE aims to boost comms with new ‘visual identity’
Design overhaul aims to help central bank reach a wider audience, BoE says
BoE consults on removing macro-prudential rule
Affordability test has drawbacks and may no longer be needed, given other tools, says FPC
Bailey seeks to clarify controversial comments on wage restraint
BoE governor says firms need to curb price rises to limit impact on poorest households
UK sanctions on Russia target five smaller banks
EU and US yet to announce detailed measures as expert calls possible Biden measures “weak”
Firms must improve liquidity safeguards – BoE’s Cunliffe
March 2020 “dash for cash” shows need for better margining practices, deputy governor says