The Bank of England operates the United Kingdom’s Real-Time Gross Settlement (RTGS) infrastructure for the settlement of electronic sterling transfers. This infrastructure plays a vital role in the safe functioning of the UK financial system and in fulfilling the Bank’s core purposes —...

Issuing banknotes is one of the Bank of England’s best known and most recognisable functions. To maintain confidence in the physical currency, genuine notes must be available to meet public demand. This article explains how the note circulation is managed to maintain this confidence. The...

We investigate the role of macroeconomic shocks in driving equity price dynamics, focusing in particular on the United Kingdom as a small open economy. Using a vector error correction model estimated on 34 macroeconomic and financial time series, we show that shocks to demand, supply, monetary...

Central bank policymakers monitor equity prices, alongside a range of other asset prices, to support both their monetary and financial stability objectives.A Dividend Discount Model (DDM) is a simple type of model that can be used to help understand past moves in equity prices. DDMs are based on...

Issuing banknotes is one of the Bank of England’s best known and most recognisable functions. To maintain confidence in the physical currency, genuine notes must be available to meet public demand. This article explains how the note circulation is managed to maintain this confidence. The...

Critical to identifying the risk of environmentally driven disease is an understanding of the cumulative impact of environmental conditions on human health. Here we describe the methodology used to develop an environmental burden index (EBI). Two key features of the EBI are that its geography is...