1: The economic outlook Twelve-month CPI inflation was at the MPC’s 2% target in May and June, close to the projection in the May Monetary Policy Report. GDP has picked up quite sharply so far this year, but underlying momentum appears weaker. Four-quarter …
Monetary Policy Summary, August 2024 The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine …
Huw Pill has been reappointed to the Monetary Policy Committee (MPC), by the Governor, after consultation with the Chancellor. Huw Pill was appointed to the MPC on 6 September 2021 for a three-year term due to end on 5 September 2024. Following his …
News release The Prudential Regulation Authority (PRA) and Bank of England (the Bank) have established a new cost benefit analysis panel ('the CBA Panel'). The CBA Panel will provide advice on the preparation of cost benefit analysis when the PRA …
Executive summary Innovations in the payments landscape Innovations in money and payments present risks and opportunities for central banks’ monetary and financial stability objectives. Central banks must be quick to engage with them and prepare for their …
Executive summary This climate disclosure sets out the Bank of England’s (the Bank’s) key climate-related developments in the year to 29 February 2024. It reports on: the climate risks, to which the Bank is exposed; the emissions associated with the Bank’s …
Executive summary The Bank’s mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. Our operations in sterling markets support these objectives. The Bank regularly reports on its market …
Executive summary The Bank of England has responsibility for the prudential regulation and supervision of around 1,500 banks, building societies, credit unions, insurers and major investment firms. The part of the Bank that carries this out is the PRA. The …
The Bank of England (the Bank) has today published a Discussion Paper on its approach to innovation in money and payments. Building on the Bank’s work to date, the Discussion Paper asks for responses on the next step in a wide-ranging conversation on how …
Summary In August 2023 the Prudential Regulation Authority (PRA) was given a new secondary objective – the secondary competitiveness and growth objective (SCGO) – as part of the reform of how financial services regulation operates in the UK. It requires …
The Governor of the Bank of England, Andrew Bailey, has today announced that Sebastian Walsh is to become the newly appointed Head of Leeds. In this role, he will help deliver the Bank’s ambitious plans for a more significant presence in the city, by being …
Introduction In September 2023, the Bank of England (the Bank) set out that work had begun to develop a new lending facility to address severe market dysfunction that threatens UK financial stability arising from shocks that temporarily increase non-bank …
Provisional design and parameters of CNRF This provisional Market Notice should be read alongside the Explanatory Note setting out the Bank of England’s (the Bank’s) motivation for, and approach to, expanding its financial stability toolkit through the …
Following an external recruitment process and consultation, the Bank of England (Bank) has appointed three new members to its Enforcement Decision Making Committee (EDMC) taking the total to nine. The EDMC is the Bank’s decision-making body for contested …
Minutes of the Meeting of the Court of Directors held on 22 May 2024 Present: David Roberts, Chair Andrew Bailey, Governor Sarah Breeden, Deputy Governor – Financial Stability Ben Broadbent, Deputy Governor - Monetary Policy Sir Dave Ramsden, Deputy …
The Bank of England’s power to direct a CCP to address impediments to resolvability Statement of Policy This Statement of Policy is issued by the Bank of England (the Bank), as the UK resolution authority for central counterparties (CCPs), under paragraph …
Privacy statement By responding to this consultation paper, you provide personal data to the Bank of England. This may include your name, contact details (including, if provided, details of the organisation you work for), and opinions or details offered in …
A global payments issue is affecting the Bank's CHAPS service and delaying some high value and time-sensitive payments, including some house purchases. We are mindful of the impact this is likely to have and are working closely with a third party …
Good morning, all. I am delighted to be here today to discuss a very important topic: collateral management. But first allow me to take a step back to set out the broader context. Since the global financial crisis, we have seen a large shift in direct risk …
Minutes Item 1 – Welcome The Chair thanked members for attending and confirmed that the Minutes of the April 2024 meeting had been published on the Bank’s website.footnote [1] The Chair welcomed those who were attending as part of the Bank’s Meeting Varied …
