BoE's Benjamin calls for 'selective' focus on financial shocks in a 'risky world'

Desire to focus on economic welfare

The Bank of England’s executive director for financial stability strategy and risk, Nathanaël Benjamin, has argued that Britain’s central bank should be “deliberate and selective” in its focus to tackle financial shocks coming “from all sorts of corners”.

Speaking at the Global Investment Management Summit today (11 June), the executive director emphasised the importance of having a framework that prioritises market concerns and how to act on them, as well as "what not to worry about" with the "ultimate" goal of bolstering "economic welfare". BoE's Mann defends MPC work as market volatility leaves committee divided on cuts The framework should be developed with a "scenario analysis in mind" that links such developments "more routinely" to impacts on service provision and the real economy. In addition, the analysis should improv...