Minutes of the Meeting of the Court of Directors held on 17 September 2026
The Bank of England’s Court of Directors discussed governance, staffing, technology upgrades, and regional engagement during its September 2026 meeting, alongside updates on Quantitative Tightening and parliamentary engagement.
The Bank of England’s Court of Directors convened on 17 September 2026, with new attendees including David Craig and Katharine Braddick attending their first meetings. The minutes from the July 2026 meeting were approved, and the Governor briefed the Court on recent international discussions, including the G20 presidency transition to the UK in 2027. The Court also received an update on the Monetary Policy Committee’s Quantitative Tightening decision and its technical coordination with HM Treasury.
Discussions included the Bank’s communication strategy, with a focus on engaging younger demographics and ensuring broad geographical reach. Regional engagement and awareness of the Bank’s role as the UK’s central bank were highlighted, alongside approaches to improve dialogue with Members of Parliament. Sarah John provided an update on Central Services, noting that new office attendance requirements—mandating staff presence 50% of the time—would take effect on 1 October 2026 following a Flexibility Review.
Technology updates were a key agenda item, with Sarah John reporting progress on replacing legacy systems. The VISTA data analysis system has gone live and is undergoing testing, marking a step toward ending reliance on the FAME platform for monetary analysis as part of the Monetary Policy Transformation Programme. The Chair also addressed appointments, including preparations for the Deputy Governor for Markets and Banking role, as Dave Ramsden’s term concludes next year.
The Court reviewed the Location Strategy Programme, noting progress toward the target of 500 staff in Leeds by the end of 2027. Contingency funds for the programme were independently reviewed and deemed acceptable, while additional works, such as museum-related projects, would be evaluated separately. The Chair emphasized the importance of value for money in all initiatives, and Unite the Union provided an annual update, highlighting concerns over unclear job profiles following the Mutually Agreed Resignation scheme.