Daily Global-Macro Brief LIVE

Central Banks 3

  • BoE lowered DWF pricing to +15bps (Level A), +25bps (Level B), +50bps (Level C) above Bank Rate to simplify and strengthen facility accessibility
  • PRA aligning liquidity framework with BoE’s reforms, encouraging use of central bank facilities for liquidity shocks
  • Sterling money markets remain resilient amid volatility, with repo rates stable and FX basis unchanged
  • UK digital pound design enters final phase with Phase 2 testing of Digital Pound Lab use cases
  • Security subgroup highlights need for governance, privacy safeguards, and resilience against cyber/quantum threats
  • Innovation subgroup sees potential for inclusion and efficiency but warns adoption may be gradual without targeted incentives
  • DMP data now published on Fridays in MPR months (week before report) and non-MPR months (shifted from Thursday)
  • ASBC moved to Fridays in all months, one week prior to MPC announcements
  • Changes aim to reduce overlap with Monetary Policy Report publication schedule