Bank of England appoints new Chief Operating Officer and Chief Cashier
The Bank of England has appointed Sarah John, the Bank’s current Chief Cashier as its new Chief Operating Officer.
From flood to fire: is physical climate risk taken into account in banks’ residential mortgage rates?
Physical climate risks can have a large regional impact, which can influence mortgage loans’ credit risk and should be priced by the lenders. Motivated by the relevance of climate change for financial intermediaries, our paper aims at analysing if physical climate risks are being reflected in residential real estate loan rates of banks. We show that on average banks seem to demand a physical climate risk premium from mortgage borrowers and the premium has increased over recent years. However, there is significant heterogeneity in bank practices.
Consumer attitudes towards a central bank digital currency
We field a series of experiments in a population-representative survey of European consumers to examine their attitudes towards the possible introduction of a digital euro. First, we show that a short video explaining the key features of the digital euro is effective in changing consumers’ beliefs about such a new form of payment and increases the likelihood of adoption by 12pp relative to a control group that is not shown the video.
From flood to fire: is physical climate risk taken into account in banks’ residential mortgage rates?
Physical climate risks can have a large regional impact, which can influence mortgage loans’ credit risk and should be priced by the lenders. Motivated by the relevance of climate change for financial intermediaries, our paper aims at analysing if physical climate risks are being reflected in residential real estate loan rates of banks. We show that on average banks seem to demand a physical climate risk premium from mortgage borrowers and the premium has increased over recent years. However, there is significant heterogeneity in bank practices.
Consumer attitudes towards a central bank digital currency
We field a series of experiments in a population-representative survey of European consumers to examine their attitudes towards the possible introduction of a digital euro. First, we show that a short video explaining the key features of the digital euro is effective in changing consumers’ beliefs about such a new form of payment and increases the likelihood of adoption by 12pp relative to a control group that is not shown the video.
US-Ukraine deal highlights Ukraine’s wealth of critical minerals, but extracting them isn’t so simple
A dragline excavator mines rare earth materials in the Zhytomyr region of Ukraine on Feb. 25, 2025. Kostiantyn Liberov/Libkos/Getty ImagesUkraine’s mineral wealth has been a key factor in its negotiations with the U.S.
Iraqi Kurdistan faces a deepening economic crisis as unpaid wages pile up
A man waves the Kurdistan flag in northern Iraq. Felix Friebe / ShutterstockPublic sector workers in Iraqi Kurdistan, a semi-autonomous region of northern Iraq, have endured irregular and delayed salary payments for more than a decade. Many of these people are owed staggering amounts of money – US$50,000 (£38,700) on average, and as much as US$120,000 for higher-level employees.
How to save workplace diversity schemes from the DEI backlash (without collecting more data)
Mr.vicpix/ShutterstockIn a radio discussion on diversity, equity and inclusion (DEI) in the workplace, a journalist asked me which year these schemes started in the UK. I felt thrown by the question. It assumed that the broad array of initiatives associated with DEI, including policies, training programmes, themed events and staff networks, had an inception date. I responded, as I often do: “It’s complicated.”
Europe may struggle to replace the military intelligence that Ukraine needs – but it has key strengths
US intelligence has been an essential part of Ukraine’s defence for over a decade. Since the invasion of Crimea in 2014 the US has been supplying Kyiv with a continuous stream of electronic, satellite and human intelligence. This has been decisive in the war with Russia in providing warnings and in making Ukrainian attacks on the Russian military more effective.
Trump’s DOGE campaign accelerates 50-year trend of government privatization
Since returning to office, President Donald Trump has aggressively moved to shrink the federal government.
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