We are changing the publication dates of the Decision Maker Panel and Agents’ summary of business conditions so that they no longer fall on the same day as publication of the Monetary Policy Report
Ander Perez-Orive, Yannick Timmer, Alejandro van der GhoteWe revisit the credit channel of monetary policy when firms face multiple financing constraints. Our theory shows that the multiplicity of constraints dampens the transmission of expansionary policy to firm borrowing and investment notably but amplifies the transmission of policy tightening.
Letter from Sarah Breeden and Sam Woods to the Chancellor and Secretaries of State
Our Financial Policy Committee (FPC) meets to identify risks to financial stability and agree policy actions aimed at safeguarding the resilience of the UK financial system.
Anne Lundgaard HansenThis paper proposes a validation framework for LLM-generated measurements when reliable benchmarks are unavailable. Validity is established by testing whether an LLM can reconstruct passages from annotated labels while maintaining semantic consistency with the original text. The framework avoids circular reasoning by establishing testable prerequisite properties that must be met for a validation to be considered successful.
The Bank is today announcing a simplification and reduction in the Discount Window Facility (DWF) pricing, as part of its previously announced review of the DWF.
The Bank of England and Prudential Regulation Authority have finalised a package of changes to firms’ resolution reporting and disclosure requirements which reduces the burden of regulation while maintaining a robust and credible regime that supports growth and competition.
The Prudential Regulation Authority (PRA) has fined The Bank of London Group Limited and Oplyse Holdings Limited (formerly The Bank of London Group Holdings Limited) £2 million for misleading the PRA over their capital positions, failing to act with integrity, failing to be open and cooperative with the regulator and failing to maintain adequate financial resources.
Our new methodology builds an inter-country input-output table that distinguishes green products from the rest, allowing us to assess vulnerabilities in green value chains. In a multi-country, multi-sector model, our table reveals that a decoupling of green supply chains between a US-centric West and a China-centric East could globally cut trade in green products by up to 20%, lower welfare by up to 3% and raise yearly global greenhouse gas emissions by about 50 million tonnes.
