The need to issue long-dated gilts
The COVID-19 crisis presents a multi-faceted challenge to policymakers. A combination of declining commodity prices, the rise in unemployment, and...
The COVID-19 crisis presents a multi-faceted challenge to policymakers. A combination of declining commodity prices, the rise in unemployment, and...
Many comparisons have been made between the coronavirus crisis and the global systemic crisis in 2008. This column argues that seen through the lens...
Artificial intelligence, such as the Bank of England Bot, is set to take over an increasing number of central bank functions. This column argues that...
European banks have been criticised for holding too much domestic government debt during the recent euro area crisis, intensifying the doom loop...
Given that China is a strategic and economic rival to the US, the Trump administration’s framework for US-China trade makes far more sense than one...
Financial institutions are increasingly outsourcing information technology to the cloud, motivated by efficiency, security, and cost. This column...
The type of risk we most care about is long-term, what happens over years or decades, but we tend to manage that risk over short periods. This column...
As central banks accumulate ever more job functions, their reputation risk increases. This column offers a cautionary tale from Iceland where, after...
Government ownership of banks can help solve credit market failures and stabilise the supply of credit over the business cycle. However, it can also...
Are cryptocurrencies the future of money, Ponzi schemes, speculators’ dreams, or just a prosperity gospel? While there is money to be made in the...
Current stress testing of banks is focused on the resiliency of individual banks to exogenous shocks. This column describes how the next generation of...
Cryptocurrencies are supposedly a new and superior form of money and investments – the way of the future. The author of this column, however, does not...
Artificial intelligence is increasingly used to tackle all sorts of problems facing people and societies. This column considers the potential benefits...
Brexit creates new opportunities and new risks for the British and EU financial markets. Both could benefit, but a more likely outcome is a fall in...
The threat to the financial system posed by cyber risk is often claimed to be systemic. This column argues against this, pointing out that almost all...
The IMF’s latest Global Financial Stability Report devotes for the first time a chapter to the systemic risks potentially associated with the...