Bank of England

Sasha Mills, Executive Director for Financial Market Infrastructure, talks about how innovation in wholesale financial markets could boost growth and economic development, in much the same way that the invention and production of the internal combustion engine changed the way we travelled and traded in the 19th and 20th centuries. Sasha highlights how the potential impact of tokenisation, programmable platforms, and the adoption of other new technologies could make post-trade processes faster, cheaper and more efficient, restructuring our financial system and the way we engage with it. Read Sasha's speech here: https://b-o-e.uk/4eFnHa3

We have published our Centre for Central Banking Studies (CCBS) 2025 events programme, aimed at central bank experts and global regulators. Events next year will cover: ? the rise of artificial intelligence; ? economic forecasting and its contribution to monetary policy, following the Bernanke review of the Banks of England's approach; ? innovation in payments; and ? how we should deal with the rise of non-bank financial intermediation to make markets more resilient. We also offer seminars and workshops on the best-in-class analytical toolkits for economists and financial analysts. Most of our seminars are offered on a virtual-only basis, but we are also holding in-person events in London. Find out more and sign up here: https://b-o-e.uk/3AUDm7N

The Bank of England and the Financial Conduct Authority have published the findings of our joint survey of artificial intelligence (AI) in UK financial services. We found that 75% of UK financial services firms are currently using AI, an increase of 17% from our 2022 survey. We also found that foundation models account for 17% of all AI use cases. Read the full report here: https://b-o-e.uk/3OEk1uZ

In his speech, Dave sets out his views on how the UK economy has developed over the past twelve months. He comments on the disinflationary process through 2024, which has seen inflation return close to the 2% target, and whether these trends will be sustained into the future. Read his speech in full here: https://b-o-e.uk/4fvulRA

The Bank of England supervises the financial market infrastructure firms (FMIs) that play a critical role in managing risk and allowing payments to be made safely. Today, we published an updated approach to supervising FMIs. We also proposed 10 new ‘Fundamental Rules’ for FMIs to set out the high-level outcomes we are seeking across areas such as governance, financial and operational resilience, and consideration of FMIs' impacts on the broader financial system. This is the first use of our new rule making powers to make legally binding rules for central counterparties and central securities depositories. The proposals will increase the transparency and effectiveness of the Bank of England's role as FMI supervisor, supporting UK financial stability and the UK economy more broadly. Read more here: https://b-o-e.uk/3OgTB2c

Join this upcoming virtual event with the Bank of England and the Financial Conduct Authority (FCA), alongside LSEG, for the Climate Financial Risk Forum (CFRF) Symposium 2024 on 27th November, to hear about the achievements of the CFRF over the past year and discuss how climate and the net zero transition are being considered and integrated into market practices. This half-day event will feature influential speakers including David Bailey, Co-Chair, CFRF, and Executive Director, Prudential Policy, Bank of England; Sacha Sadan, Director of Sustainable Finance, FCA; Balbir Bakhshi, Chief Risk Officer, LSEG; Professor Jason Lowe OBE, Head of Climate Services, Met Office; and Vanessa Havard-Williams, Chair of the Transition Finance Market Review, discussing the CFRF’s ground-breaking work on short-term scenario analysis, nature and climate adaptation. Register now: https://lseg.group/3V9OdBR #SustainableFinance

In this speech, Andrew discusses growth in the economy and why it matters. He poses five questions on what we should do to tackle issues of potential supply, and support future growth in the economy. Read Andrew's speech here: https://b-o-e.uk/3CtVupp

Catherine L. Mann reflects on the last forty years of the ‘Great Moderation’. She compares and contrasts arguments that ‘good policy’ or ‘good luck’ may have brought about more macroeconomic stability. She then discusses the likely sources of higher volatility in the future, including climate change, global trade fragmentation, financial market volatility, and policy volatility. Catherine concludes by outlining the appropriate monetary policy strategy in a more volatile world. Read Catherine's speech here: https://b-o-e.uk/415cXir

Are you a school leaver or a university student? Applications are now open for our Apprenticeship, Internship, and Black Future Leaders programmes. Our Future Talent programmes are designed to provide you with the skills and knowledge needed to build a rewarding career at the heart of the UK financial industry. Join us to find a supportive work environment, where your development is our priority. Find out more about our Internship, Apprenticeship and Black Future Leaders programmes here: https://b-o-e.uk/48RbL3P

Congratulations to Ammara Sidick, Data Analyst at the Bank of England, for winning the Charity, Voluntary & Public Services category award at the Multicultural Apprenticeship Awards.