Two standing facilities are available for providing or absorbing overnight liquidity. They form a corridor for the rate for day-to-day money and signal the prevailing monetary policy stance. In the shape of the Framework Report, the European Monetary Institute has already laid down a number of benchmarks for future European monetary policy. However, it cannot take all decisions away from the European Central Bank.
In a recent address, Governor Mark Carney spoke about the profound and long-term effects of climate change on issues such as property, migration, political stability and food and water security. In spite of the threat this poses to our financial resilience and long-term prosperity, little is done to mitigate it.