There are not one, nor two, but three policy committees at the Bank of England. Their names describe their respective responsibilities: the Monetary Policy Committee (MPC), the Financial Policy Committee (FPC) and [...]
It has been argued that the institutional set-up for monetary and macroprudential policy in the UK is in need of reform (see Turner (2022) and Allen (2022)). Rather than having two policy [...]
The Bank of England’s “temporary and targeted financial stability operation” proved highly effective at stabilising the gilt market. The Bank managed to break the feedback loop that had emerged, whereby margin calls [...]
Climate change represents a clear and present danger to the health and wellbeing of current and future generations. It is only natural that every unelected official who sets economic policy would reflect [...]
Large scale asset purchase programmes by central banks have become a familiar part of the landscape in financial markets. There is a lot of attention on what assets central banks plan to [...]
Forensic scrutiny of the decisions taken by policymakers and the analysis that underpins them is an essential component of a healthy public policy regime, particularly one where power has been delegated from [...]
No model and no loss function is not a recipe for good macroprudential policy Author: Richard Barwell Published: 27 September 2021 There is a problem with macroprudential policy. The two [...]
