Digital Rupee: Trial confirmed as worldwide interest in digital currency grows August 27, 2021 The Reserve Bank of India has announced the start of trials for an electronic rupee amid growing international interest in digital currency. Yesterday, central bank governor Shaktikanta Das confirmed that trials could begin as early as December. “I think by the end of the year, we should be able to – we would be in [...]
Bank of England’s MPC meeting: Who will take Haldane’s hawkish reins? August 3, 2021 A big hole has been left at the table of the latest round of the Bank of England’s monetary policy committee meetings – they are the first since chief economist Andy Haldane departed the Old Lady after over 30 years of service. Much of the focus on Thursday’s MPC policy announcements will be on whether [...]
BoE deputy governor moves to quash inflation fears July 22, 2021 The deputy governor of monetary policy at the Bank of England moved to temper fears that the UK economy is facing a period of persistently higher inflation today. In a speech, Ben Broadbent said that he was “not convinced that the current inflation in retail goods prices should in and of itself mean higher inflation [...]
Bank of England Andrew Bailey concedes shortcomings in diversity July 21, 2021 Governor Andrew Bailey has promised to do more to address systemic racial inequality after a review found “material disparities” persist at the Bank of England. Staff from ethnic minority backgrounds were less likely to be promoted, received smaller bonuses and were afforded fewer opportunities for career development and progression than their white colleagues, according to the [...]
Haldane: Covid vaccine programme a model for successful innovation policy July 21, 2021 The former chief economist at the Bank of England has praised the UK’s Covid vaccination programme for being a model of successful innovation policy. In a foreword to a policy paper published by think tank Policy Exchange, Andy Haldane said the vaccine initiative “involved a clear mission, project management by Government… all underpinned by large-scale [...]
Mounting inflation could trigger early end to BoE’s bond buying July 15, 2021 An external member of the Bank of England’s monetary policy committee has warned that surging inflation could prompt the central bank to end its bond buying programme early. Michael Saunders said in a speech on Thursday: “if activity and inflation indicators remain in line with recent trends… options might include curtailing the current asset purchase [...]
Inflation to soar to four per cent, warns BoE deputy governor July 15, 2021 The deputy governor of the Bank of England has warned that inflation could soar as high as four per cent, double the Bank’s target. Sir Dave Ramsden said in a speech on Wednesday that he “wouldn’t be surprised to see the whole inflation rate potentially rising as high as four per cent for a period [...]
Cloud computing providers pose risk to financial stability – BoE July 13, 2021 Cloud computing providers could become a threat to financial stability and regulators need to crackdown on them to strengthen banks’ resiliency, the Bank of England warned on Tuesday. The Bank said some cloud computing providers can be secretive and could disrupt the normal functioning of the UK financial system. Read more: British SMEs exposed to [...]
Banking shares jump after Bank of England gives OK for dividends, bonuses and buybacks July 13, 2021 Banking shares jump after Bank of England gives OK for dividends, bonuses and buybacks
Senior staff at financial services firms to have pay based on diversity performance July 7, 2021 Senior managers at financial services firms could have their renumeration based on their company’s diversity and inclusion performance under new rules announced today. The Financial Conduct Authority, Prudential Regulation Authority and the Bank of England are seeking feedback on proposals put forward to improve diversity and inclusion in financial services. “Linking progress on diversity and [...]