No economy is an island: how foreign shocks affect UK macrofinancial stability
This article explores the trade and financial channels through which foreign developments can be transmitted to the UK. We quantify how global developments have affected UK GDP historically, and analyse their potential influence in future rare events. We also discuss the actions taken following the global financial crisis to address vulnerabilities in the global financial system and promote ‘safe openness’.
Our new banknotes: the journey from design to launch
Our most recent series of Bank of England banknotes, the first ones printed on polymer, was launched over a five-year period between 2016 and 2021. Within the context of previous evolutions in design and security features, this article explains how the new banknotes are cleaner, safer and stronger. It also provides behind the scenes insights on the full journey of the new banknote series, from design to launch.
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