The world economy is at a turning point. After almost 15 years of low inflation and near-zero short-term rates, we are in the midst of a new inflationary phase of and higher [...]
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 [...]
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 [...]
Donald Kohn writes a response to the annex sent to the Treasury Select Committee from David Aikman on the topic of FPC accountability and specifically how to quantify its financial stability objective. [...]
This article publishes the annex to a letter sent to the Treasury Select Committee from David Aikman on the topic of FPC accountability and specifically how to quantify its financial stability objective. [...]
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 [...]
In this article, we take stock of the cumulative effect of the various changes that have been made over time to the Financial Policy Committee (FPC)’s mandate via the Chancellor of the [...]
The US needs urgently to raise its macropru game Author: Donald Kohn Published: 15 October 2021 Implementing robust macroprudential policy—addressing threats to financial stability beyond those that were the focus [...]
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 [...]
Macroprudential policy as part of a broader financial stability regime: does it exist, what should it be? Author: Sir Paul Tucker Published: 13 September 2021 Macroprudential policy is (supposedly) [...]
