Andrew Bailey highlights how UK economic growth has slowed since the Financial Crisis. He examines AI and suggests gains may take time, depend on complementary innovation, and bring uncertain effects on jobs, making investment in skills essential
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As technology evolves, Sarah Breeden sets out the Bank of England’s vision for UK finance: a robust, multi-money retail payments system that promotes greater competition and innovation, and a multi-asset, multi-currency approach to tokenising the markets of the UK’s global financial centre
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Sam Woods reflects on the nature of banking supervision. Taking stock of how supervision has evolved in the UK and internationally, he considers what the role of a supervisor is and how it might evolve in future
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Europe is recalibrating its industrial policy in response to external challenges. Maive Rute, Frank Vandermeeren and Anca Dumitrescu investigate the goals of this recalibrated approach and the key components for success
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The Iran energy shock is a test of European discipline on state aid. Roel Dom and Simone Tagliapietra argue that the latest EU temporary state-aid framework is needed to shield industries and consumers from short-term costs, but should not become more permanent
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Stablecoins are not an efficient way to strengthen the international role of the euro, says Christine Lagarde. The best solution to do so remains: deeper capital market integration through the savings and investment union and a stronger safe asset base
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The US–Iran relationship appears to be at its lowest point in decades. Simon Johnson and Amir Kermani describe how the twin blockades of the Strait of Hormuz create the possibility of a time-consistent agreement linking the nuclear issue, sanctions relief, and uninterrupted navigation
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Global efforts to tackle the climate and nature crises have not progressed as hoped, says Christine Lagarde. This sharpens the case for deeper analysis from the research and central banking communities to better understand the risks to price and financial stability
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The dramatic developments unfolding globally, spanning wars, geopolitical shifts, and trade disruptions, have caught Europe off balance. Marco Buti, Giancarlo Corsetti and Anna Peychev discuss the 2026 Florence Report and urge the EU to replace its broken ‘reduced responsibility model’ with a New European Social Contract integrating defence, finance, and the supply of public goods
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