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

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

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

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

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

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