Friday, June 19, 2015

The Bank Of England Is Blogging

Not good.
Not good at all.

This is the Bank of England:

They do not blog here.
Sure, they may have a virtual tour of the building.
With a downloadable app should you wish to visit the gold vault while mobile:
But they do not blog here.

From FT Alphaville:

The Old Lady of Threadneedle Street blogs!
 Welcome to Bank Underground, the official (and slightly subversive sounding?) Bank of England staff blog.

It’s gone live this Friday, with not one but two inaugural posts touching on topics as far ranging as the impact of driverless cars on the insurance industry to the somewhat wonkish debate over how the ELB (effective lower bound) might one day constrain monetary policy and inflation.

While the BoE isn’t the first central bank to publish staff analysis in blog form– the New York Fed’s staff have been blogging on Liberty Street Economics since 2012 — it is the first that intends to use the medium as a mechanism for self-scrutiny and internal challenge.

As Andy Haldane, the Bank’s chief economist and executive director of monetary analysis and statistics told FT Alphaville this fits with the Bank’s push to make itself more open and transparent.

“It may sound like quite a small step for mankind but it’s quite a big one for the Bank of England,” says Haldane....MORE
See also:
The first nine years of the Bank of England. An enquiry into a weekly record of the price of bank stock from August 17, 1694 to September 17, 1703 (1887)

Wage Slaves at the 18th Century Bank of England