This note, published in pursuit of the FMLC’s educational remit, outlines some of the legal issues which arise in the context of monetary policy and monetary financing, and considers a recent judicial decision in relation to the distinction between monetary policy and monetary financing, so as to highlight particular consequences for stimulus policies by National Central Banks.
In June 2017, the Bank of England’s Working Group on Sterling Risk-Free Reference Rates published a White Paper entitled SONIA as the RFR and approaches to adoption. The Working Group […]
The FMLC responded to a consultation paper published by the Bank of England in October 2016 on the evolution of the SONIA benchmark. The Consultation Paper sets out proposals for […]
A letter from the FMLC to Dr Shafik of the Bank of England, sent 29 January 2015, responding to a consultation document by the Fair and Effective Markets Review. Available […]