Tag: Bank Of England

Bank Of England

Bank of England Questions Decision to Drop Spot FX Market Abuse Regime

As part of its response to the findings of an internal investigation conducted after it was revealed audio recordings of its press conferences were being illegal sold to market participants, the Bank of England has flagged revisiting a previously-ignored recommendation of the UK’s Fair and Effective Markets Review (FEMR) to create a new statutory civil […]

BoE Leaves Policy Unchanged; Sets Stage for Easing

The Bank of England made no changes to its benchmark rate or quantitative easing package at Wednesday’s rate setting meeting, but left the door wide open for policy changes at its next gathering in November. Interest rates remain at a record low of 0.1%, while the total stock of the current quantitative easing package stays […]

BoE’s Bailey: Bank Underestimated its Fire Power

The Bank of England (BoE) underestimated the tools at its disposal in the event of a Covid-sized crisis and sees an ample supply of financial assets should the economy require further quantitative easing. “It looks from today’s vantage point that we were too cautious about our remaining firepower pre-Covid,” said BoE Governor Andrew Bailey, addressing […]

BoE Defends Forecasts as Agents Query Rosy Assumptions

Top Bank of England (BoE) officials Friday reiterated the downside risks to forecasts of a smart economic rebound under questioning from the central bank’s regional representatives about the its baseline forecasting assumptions. The central forecast released Thursday “is sensible”, albeit with “very substantial” downside risk, said Governor Andrew Bailey, addressing the Bank’s regional agents via […]

UK to be Fourth BIS Innovation Hub

The Bank for International Settlements (BIS) has selected the Bank of England to host its fourth innovation hub and announced plans to open others across the northern hemisphere. Hubs have been already been established in Basle, Hong Kong and most latterly, Singapore after the BIS initiated the programme in July 2019 to help foster collaboration […]

FX Global Code in 2021 and Beyond

How well have the principles of the FX Global Code stood up in face of recent volatility spikes? Panellists Rohan Churm, head of the FX division at the Bank of England; Neill Penney, vice chair of the Glboal FX Committee; Christian Schoeppe, managing director and founder of Schoeppe FX; and Martin Pluves, CEO of the […]

In the FICC of It Special

Due to the level of interest generated by Profit & Loss’ discussion with Rohan Churm, head of the FX division at the Bank of England as part of our first ever Dial-in Day, we are releasing the audio as part of our In the FICC of It podcast series. You can download either by clicking the […]

Central Banks Coordinate on Further US Dollar Liquidity

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to further enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements. To improve the swap lines’ effectiveness in providing US […]

Central Banks Enhance Liquidity Swap Lines

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank have announced a coordinated action to enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements. These central banks have agreed to lower the pricing on the […]

In the FICC of It

Market structure dominates this week’s podcast as Colin Lambert goes to town on the SEC’s refusal to grant Cboe permission to implement a speed bump (and along the way take a few pops at the equity market structure of course), before touching upon news that the LSE-Refinitiv deal may be delayed and what that means […]