Jaemin Jeong, Eunseong Ma, Choongryul YangWhen do households listen to the Fed? We show the answer lies in a simple but powerful force: household attention to macroeconomic conditions. We develop a model where attention acts as a crucial gatekeeper for the pass-through of policy news to beliefs, and confirm its predictions using household survey data.
Daniel A. Dias; Sophia C. ScottThis paper shows that U.S. commercial banks' funding betas rise predictably with the length, magnitude, and direction of each monetary policy cycle: longer cycles and those with larger changes in the policy rate yield stronger pass-through in both tightening and loosening cycles, with modest asymmetry favoring slightly greater transmission during loosening cycles. Nondeposit liabilities consistently adjust more than deposits.
David M. Arseneau and Gazi I. KaraThis paper uses a large-scale redrawing of flood zone maps for the City of New Orleans in 2016 to identify how banks respond to changes in perceived flood risk in residential mortgage origination. Using geo-coding, we separate loan-level data on mortgage originations into treatment versus control groups based on how individual properties were affected by the map changes.
Charles Taragin, Benjamin Wallace, Eddie WatkinsWe study how corporate debt influences the competitive outcomes of horizontal and conglomerate mergers. In contrast to standard models where debt does not affect pricing, our framework shows that mergers can spread fixed debt obligations across a broader product portfolio, creating an "insurance effect" against adverse demand shocks. This effect interacts with the traditional recapture effect from reduced competition.
The Bank of England’s Monetary Policy Committee is responsible for making decisions about Bank Rate.
Exchange of letters between the Governor and the Chancellor
2026 confirmed dates
At its meeting ending on 17 September 2025, the MPC voted to reduce the stock of gilts held in the Asset Purchase Facility (APF) for monetary policy purposes by £70 billion over the next twelve months. This Market Notice sets out the schedule for sales in Q4 2025 of gilts held in the APF for monetary policy purposes.
In this paper, we empirically investigate how suitability concerns detected by the SSM in the fitness and propriety of management body appointees impact the performance of European banks in the period 2014-2023. We provide evidence that management body appointees where the assessment of the supervisory authorities raised concerns, had a negative impact on the bank’s future performance. The negative effect can be attributed to appointees where the supervisory assessment revealed such severe concerns that ancillary measures were imposed.
Nowadays, media often celebrate the “girlboss” – the entrepreneur who works 80-hour weeks to build her brand and success – while corporate campaigns show women who “lean in” in the boardroom and maintain flawless family lives. These cultural ideals create the illusion that women in leadership are more empowered than ever. However, our research shows that some of them feel exhausted, constrained by expectations, and pressured to embody an ideal that leaves little space for vulnerability.
