The Bank is itself exposed to climate risks across its policy work, financial operations and physical operations. The risks arise through two primary categories: physical risks and transition risks. Physical risks Physical risks can arise from weather …
Executive summary The Bank’s mission is to promote the good of the people of the United Kingdom by maintaining monetary and financial stability. The Bank’s sterling market operations, including – but not limited to – those delivered through the Sterling …
It is a great pleasure to have the opportunity to open this conference. You could say that it is an example of the endearing British sense of humour that we organise a conference on what is commonly regarded as one of the less good economic decisions in …
Thank you for inviting me to speak at the Barclays-CEPR Monetary Policy Forum, which gives me the opportunity to set out my latest thinking, in the light of last week’s decision by the Monetary Policy Committee (MPC). The MPC decided by a majority of 6-3 …
It is a pleasure to join you today at the UK Finance Digital Innovation Summit and to witness such vibrant and forward-looking activity. Events like this are a powerful reminder of the transformative potential of innovation, unlocking new products and …
The Bank of England (the Bank), the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA), and the Payment Systems Regulator (PSR) (the Authorities) have a Memorandum of Understanding (MoU) which sets out the high-level framework …
Governor Pyshnyy, when you invited me to speak today, I was in no doubt that I was going to be here in person. The UK and Ukraine share unbreakable bonds, which were recognised in the 100 Year Partnership signed in January. That Partnership cements our …
Minutes of the Meeting of the Court of Directors held on 10 April 2025 Present Committee members: David Roberts, Chair Andrew Bailey, Governor Sarah Breeden, Deputy Governor – Financial Stability Clare Lombardelli, Deputy Governor - Monetary Policy Sir …
At its September 2024 meeting, the MPC voted to reduce the stock of gilts held in the APF by £100 billion over the period from October 2024 to September 2025, to a total of £558 billion. The Bank set out in the consolidated APF gilt sales Market Notice …
Overview This survey forms part of the Bank’s quantitative market intelligence gathering. It is formulated by Bank of England staff, and enhances policymakers’ understanding of market expectations. The questions involve topics that are widely discussed in …
By Daniel Albuquerque, Jenny Chan, Derrick Kanngiesser, David Latto, Simon Lloyd, Sumer Singh and Jan Žáček We describe a medium-scale, open-economy dynamic stochastic general equilibrium model of the UK economy, which has its foundations in ‘COMPASS’, …
By Mishel Ghassibe, Boromeus Wanengkirtyo and Ivan Yotzov Forward-looking pricing is at the core of modern macroeconomics, yet a gap remains between its theoretical foundations and their empirical validation. To bridge this gap, we study intertemporal pass …
Monetary Policy Summary, June 2025 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 …
During the first half of 2025, the US and some of its trading partners have announced significant changes to tariff policies, and there remains considerable uncertainty about the evolution of global trade policies over coming quarters. The expected impact …
Overview This publication summarises intelligence from the Bank’s Agents considered by the Monetary Policy Committee at its June meeting. The intelligence was gathered in the six weeks to mid-May. The Agents’ scores published alongside this document …
Introduction Good morning. I would like to thank Risk.net for inviting me to speak today. I will take this opportunity to talk about innovation in financial services. My focus will be on the role the PRA can play in fostering innovation in the UK banking …
Introduction It’s a pleasure to be here at such an interesting time. I would like to start by noting that central counterparty (CCP) clearing is an issue I have been close to throughout my career as an academic, regulator and policymaker.footnote [1] I am …
Introduction from the Citizens’ Panels chairs The Bank’s Citizens’ Forum and Community Forum programmes offer first-hand accounts of how economic conditions impact communities up and down the UK. In our role as independent chairs of the Citizens’ Panels …
This news release describes the results of the Bank of England’s latest quarterly survey of public attitudes to inflation. From February 2022, the survey has been conducted on the Bank of England’s behalf by Ipsos, prior to that it was conducted by Kantar …
The Bank of England (the Bank) published a discussion paper - Transitioning to a repo-led operating framework on 9 December 2024, which set out and sought feedback on the Bank's transition to a repo-led, demand driven operating framework for supplying …
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