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This category contains 48 posts

Accountability of the Bank of England

By Editor ⋅ 20 January, 2012 ⋅ Post a comment

Response from the Court of the Bank of England to the recommendations made by the Treasury Committee and Joint Committee on the draft financial services bill on the accountability of the Bank of England. On 8 November 2011, the Treasury Select Committee of the House of Commons published a Report on the “Accountability of the [...]

The euro zone: Is this really the end?

By Editor ⋅ 26 November, 2011 ⋅ Post a comment

Unless Germany and the ECB move quickly, the single currency’s collapse is looming. Even as the euro zone hurtles towards a crash, most people are assuming that, in the end, European leaders will do whatever it takes to save the single currency. That is because the consequences of the euro’s destruction are so catastrophic that [...]

IMF: Central Banks, Financial Regulators, and the Quest for Financial Stability

By Editor ⋅ 14 November, 2011 ⋅ Post a comment

2011 IMF Annual Research Conference, Washington DC, November. The global financial crisis gave economists pause for thought about what should be the future of macroeconomic policy. We have devoted much of our thinking to this issue these past three years, including how the many policy instruments work together. The interactions between monetary and macroprudential policies, [...]

UK Financial Policy Committee meeting

By Editor ⋅ 4 October, 2011 ⋅ Post a comment

Financial Policy Committee statement from its policy meeting, 20 September 2011. The Financial Policy Committee held its second formal meeting on 20 September. Since its previous meeting there had been severe strains in financial markets, which stemmed in large part from continuing concerns about the sustainability of external and internal debt positions of some countries, [...]

Constraints on Central Banks Leave Markets Adrift

By Editor ⋅ 23 September, 2011 ⋅ Post a comment

Constraints on Central Banks Leave Markets Adrift. They called it the “Greenspan put,” and it reassured a generation of traders. If economic storms were gathering, the top central banks — most important the Federal Reserve, then led by Alan Greenspan — could and would step in to prevent disaster. Because the traders effectively had a [...]

Macroprudential policy – the things we don’t know

By Editor ⋅ 19 September, 2011 ⋅ Post a comment

This paper identifies and discusses some of the more difficult and contentious issues relating to macroprudential policy. Published jointly by the Group of 30 and the Bank of England, co-authored by Alastair Clark – External Member of the Financial Policy Committee and Senior Adviser for Financial Stability at HM Treasury – and Sir Andrew Large – [...]

The future of central banking

By Editor ⋅ 7 September, 2011 ⋅ Post a comment

The Central Banking ON AIR debate: Tomorrow at 08:30 BST (London), 03:30 EST (New York). In association with: BNP Paribas. Free Registration. Date: Thursday, 8 September, 2011 Time: 8:30am GMT (London) The financial crisis has challenged ideas of what roles a central bank should play in an economy and markets. It has reopened questions that [...]

Bernanke speech at Jackson Hole

By Editor ⋅ 27 August, 2011 ⋅ Post a comment

Bernanke hints at more Fed support. Ben Bernanke has hinted that the US Federal Reserve will do more to support the stalling US economy, saying that the central bank “is prepared to employ its tools as appropriate to promote a stronger recovery” and will extend its September monetary policy meeting “to allow a fuller discussion”. [...]

The Limitations on Central Banks

By Editor ⋅ 16 August, 2011 ⋅ Post a comment

If the first fear is global recession, the second is that central banks have run out of fixes. They do have means to respond, but only with radical and possibly dangerous policies whose efficacy is dubious. These nuclear monetary weapons might be better kept locked away. Printing money — or quantitative easing — has always [...]

BoE Financial Stability Report and FPC Record

By Editor ⋅ 24 June, 2011 ⋅ Post a comment

Press conference: Opening Remarks by the Governor. Let me welcome you all to the first press conference for the Financial Stability Report published under the auspices of the Bank’s new Financial Policy Committee (FPC). With this press conference and the publication today of both the Stability Report and the Record of the FPC’s meeting, we [...]

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