Research to the fore as Carney overhauls BoE

At the Bank of England, Sujit Kapadia says he’s been given free rein as governor Mark Carney pushes an overhaul of how the institution thinks about the economy.

Two years after a critical report into the BoE’s forecasting record, Mr Kapadia is leading a new unit analysing everything from monetary policy and financial regulation to climate change and digital currencies such as Bitcoin. Part of the change is to regain lost ground now the recession is over.

“During the financial crisis, more resources got devoted to dealing with the pressing issues around distress in the banking system, stress in the macro economy,” Mr Kapadia said in an interview in London.