Nature in decline, economy on the line
Nature is the economy’s life support system, and it is under strain. Frank Elderson calls for stronger global cooperation to tackle nature related financial risks
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Finance
The cause of economic stagnation
Economic growth depends on free market policies. Patrick Minford argues that the UK’s economic stagnation is not caused by Brexit but by damaging government policies
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What will AI mean for the labour market?
AI looks increasing likely to become what technologists call a general-purpose technology. Michael Barr discusses the rapid evolution of AI and the potential impact of generative AI on the labour market and the economy
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Europe and monetary sovereignty
Europe must not take its monetary sovereignty for granted in a world undergoing geopolitical and technological changes, says Piero Cipollone. Reducing excessive dependencies in payments and finance is key for resilience, competitiveness and economic security
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Measure, model, tackle, tailor
Climate and transition shocks increasingly shape the macroeconomic outlook and financial risks. James Talbot sets out the Bank of England’s approach to assessing and managing climate impacts across its core objectives
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The world today
The global economy has shown resilience despite heightened uncertainty, supply side shocks, and geopolitical risks, but downside risks remain significant. Andrew Bailey says that sustaining growth and financial stability will require innovation, openness, international cooperation, and strong global institutions
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Talking ’bout next generation
The international and technological frontier for retail payments is advancing. Sarah Breeden sets out how the Bank of England is leading the design of the UK’s next generation retail payments infrastructure, while also supporting private sector innovation in the interim
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CBDC and monetary sovereignty
Calls for a digital euro increasingly invoke monetary sovereignty. Lucrezia Reichlin argues that an effective defence of monetary sovereignty will continue to depend on regulation, fiscal capacity, and the ECB’s willingness to absorb risk when it matters
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Global imbalances in a more fragmented world
Andrew Bailey emphasises the need for robust international cooperation, supported by multilateral institutions, and why they need to be supported by an international rules-based system, setting out some of the conditions that help make this system work and what challenges they might face
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Economic incoherence
EU member states may now exceed deficit limits if the borrowing finances defence. Paolo Surico proposes exempting innovation-related expenditure, rather than procurement, to raise long-run growth while maintaining fiscal responsibility and strategic autonomy
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