News release The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have announced the first cohort of banks and building societies to benefit from their joint Scale-up Unit. The Scale-up Unit announced last year is designed to …
It’s a pleasure to be here to talk about the UK’s work to renew our retail payments infrastructure, and the significant role the Bank of England is playing in that. After all, money and payments are at the heart of the Bank’s monetary and financial …
Introduction When I spoke to you last year, I reflected on a series of record-breaking highs we had seen in global equities markets, and the corresponding impact that had on prime brokers’ balance sheets. Those rising equities valuations mechanically …
Thank you to the Chairman, Alderman Prem Goyal, Alderwomen, Aldermen, Chief Commoner and distinguished guests. Thank you to the City of London and Guildhall for this invitation to speak on a timely and highly relevant topic: getting fit for the future. …
Good morning, I am very pleased to be at this important event in the innovation calendar. The coming year is going to be fundamental in shaping the UK’s digital financial future. The Bank of England (the Bank), working alongside industry, HM Treasury, the …
Introduction It’s wonderful to be here with you at the Resolution Foundation today. The turn of the year is a time when we often take stock of where the economy has been and look ahead to the next 12 months. It’s this annual ritual that has motivated my …
By Raphael Abiry, James Hurley, Paul Labonne, David Latto, Harry Li, Andre Moreira, Joseph Oyegoke and Sumer Singh The Bernanke Review and forecasting challenges of recent years have highlighted the importance of continuous learning from forecast errors. …
Foreword On the basis of his thorough review of the Bank of England’s (Bank’s) macroeconomic forecasts and their role in policy preparation and communication (Bernanke (2024)), former Federal Reserve Chair Ben Bernanke offered several recommendations to …
Can I start by extending my welcome to all participants in the Bellagio Group, and congratulate the organisers on a timely and highly relevant choice of subject. My role today is some scene setting. I am going to cover three points. First, a reminder of …
Good afternoon. I am delighted to be here and thank you to the Money Macro and Finance Society and King’s College London, two bodies I have a close affiliation with, for hosting me today. For the avoidance of doubt, given we are at the start of a new year, …
To calculate aggregate results, each lender is assigned a score based on their response. Lenders who report that credit conditions have changed ‘a lot’ are assigned twice the score of those who report that conditions have changed ‘a little’. These scores …
By Philip Bunn, Nicholas Bloom, Craig Menzies, Paul Mizen, Gregory Thwaites and Ivan Yotzov We present new evidence on how firms set prices using direct questions from a large economy-wide survey of UK firms. Since 2023, 54% of firms report setting prices …
The December DMP survey was conducted between 5 and 19 December 2025 and received 2,062 responses. Firms reported that their realised annual own-price growth fell by 0.1 percentage points to 3.7% in the three months to December. Note that the DMP covers …
The Bank set out the schedule for sales in Q1 2026 of gilts held in the APF for monetary policy purposes in the 19 December 2025 Market Notice. Following the announcement by the Chancellor of the Exchequer that the Spring forecast will be held on Tuesday 3 …
Item 1. Introduction & Minutes of last meeting The Co-Chair welcomed the Committee to this hybrid meeting and noted that the minutes of the last UK Money Market Code Sub-Committee meeting (held on 3 June 2025) is on the Bank’s website. Item 2. An …
Present Committee members: David Roberts, Chair Andrew Bailey, Governor Sarah Breeden, Deputy Governor – Financial Stability Clare Lombardelli, Deputy Governor - Monetary Policy Sir Dave Ramsden, Deputy Governor – Markets & Banking Sam Woods, Deputy …
By Max Ahrens, Dragos Gorduza and Michael McMahon We introduce EcoFinBench, a natural language processing (NLP) benchmark suite for the domains of economics and finance. We comprehensively test a large array of NLP models across multiple domain-specific …
Minutes Item 1 – Welcome The Chair thanked members for attending and confirmed that the Minutes of the Money Markets Committee (MMC) September 2025 meeting had been published on the Bank’s website.footnote [1] The Chair welcomed Natasha Vowles to her first …
Overview This Agents’ summary of business conditions (ASBC) summarises intelligence from the Bank’s Agents considered by the Monetary Policy Committee at its December meeting. The intelligence was gathered in the six weeks to late November, so largely …
1: Before turning to its immediate policy decision, the Monetary Policy Committee (MPC) discussed key economic developments and its judgements around them, as well as its views on monetary policy strategy. Current economic conditions 2: Twelve-month CPI …
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