Posts Tagged ‘Bank Of England’

Unemployment and the conduct of monetary policy in the UK

Saturday, August 23rd, 2014

Speaking to the FRBK’s Economic Policy Symposium in Jackson Hole, Ben Broadbent, Deputy Governor for Monetary Policy, sets out why, historically, UK monetary policy failed to respond directly to labour market developments; why, in 2013, “the MPC chose to condition policy explicitly on unemployment… and how things have progressed since then.” (more…)

Forward Guidance: One Year On

Friday, August 8th, 2014

• Majority believe interest rates will rise during 2015

• A third say they will be better off if interest rates rise

A year on from Mark Carney’s decision to implement ‘forward guidance’, research from YouGov and Cebr shows that although there is not a great deal of recognition of what the term actually means (more…)

UK Bank rate remains unchanged

Thursday, August 7th, 2014

In what must be the most unsurprising of events the Bank of England’s Monetary Policy Committee decided yet again to keep the bank rate at its record low of 0.5 percent and maintain the level of the asset purchase programme at £375 billion. (more…)

Impact of a Potential Rise in UK Interest Rates

Monday, August 4th, 2014

Ahead of the Bank of England’s Official Bank Rate decision on 7th August 2014,  Algernon Percy, Managing Director at Waverton Investment Management assesses the impact a rise will have on the UK economy: (more…)

Bank of England announces departure of Spencer Dale and appointments to the PRA Board

Monday, August 4th, 2014

The Bank of England is today announcing the departure of Spencer Dale, the Bank’s Executive Director for Financial Stability Strategy and Risk. The Bank is also announcing new appointments to the Board of the Prudential Regulation Authority (PRA). (more…)

Bank of England Action Against Lloyds and Bank of Scotland

Monday, July 28th, 2014

Bank of England statement on FCA enforcement action against Lloyds Bank PLC and Bank of Scotland PLC in relation to manipulation of submissions to the BBA GBP Repo Rate (more…)

Prudential Regulation Authority consults on implementing the Bank Recovery and Resolution Directive

Thursday, July 24th, 2014

The Prudential Regulation Authority (PRA) has today proposed changes to its rules to implement the EU Bank Recovery and Resolution Directive (BRRD). The BRRD provides a common set of tools and powers for dealing with failing banks and will take effect at the end of 2014. (more…)

Leverage ratio review consultation

Tuesday, July 22nd, 2014

On 11 July, the FPC published a consultation paper on the design of a leverage ratio framework for the UK, as part of the FPC’s review of the role of the leverage ratio within the capital framework for banks. (more…)

Bank of England Consultation Paper: The Financial Policy Committee’s review of the leverage ratio

Friday, July 11th, 2014

The Financial Policy Committee is today launching a consultation on the design of a leverage ratio framework for the UK. This forms part of the FPC’s review of the role of the leverage ratio within the capital framework for banks, as requested by the Chancellor of the Exchequer in November 2013. (more…)

Mark Carney: E for Exports?

Friday, July 4th, 2014

Mark Carney has received mixed results on his report card amidst the one-year anniversary of his stewardship of the Bank of England (BoE). Sentiments have largely been positive, with some concern over Carney’s communication of the iterations of BoE forward guidance plans presented in the last year. (more…)

The Bank of England Monetary and Financial Policy Committees: guiding the economy towards a sustainable and safe recovery

Thursday, July 3rd, 2014

In a speech today, Jon Cunliffe explains how the Financial Policy Committee and Monetary Policy Committee work together to meet the Bank’s new mission, which is “promoting the good of the people of the United Kingdom by maintaining monetary and financial stability”. (more…)