# Dovo Journal

> Dovo Journal is an independent publication covering Federal Reserve, FOMC & central banks. Focus: Fed speeches alongside ECB, BoE and BIS policy. Published by Independent Journal; sponsored by Adamson Brothers Corp. (see the About page). Articles are drafted from primary sources with AI assistance and reviewed under our editorial policy. Not investment advice.

## Usage
- AI crawlers and assistants may read and index this site.
- Quotation and citation are welcome with attribution to the publication and a link to the article URL.
- News articles are time-sensitive; check the publication date. Guides are evergreen and updated over time.

## Sections
- [Latest news](https://dovojournal.com/): newest articles first
- [Guides](https://dovojournal.com/guides/): evergreen explainers
- [Topics](https://dovojournal.com/topics/): topic index
- [Writers](https://dovojournal.com/authors/): bylines and beats
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- [Sitemap](https://dovojournal.com/sitemap-index.xml)

## Guides
- [What the Bank for International Settlements does: BIS report guide](https://dovojournal.com/what-the-bank-for-international-settlements-does/): An explainer on the Bank for International Settlements: who owns it, what it does for central banks, how the BIS report and committees work, and what it is not.
- [Quantitative easing and quantitative tightening explained](https://dovojournal.com/quantitative-easing-and-quantitative-tightening-explained/): What quantitative easing and quantitative tightening are, how central banks buy and shed assets, what happens to reserves and bond yields, and where the debate lies.
- [The Fed, ECB and Bank of England compared: mandates and tools](https://dovojournal.com/the-fed-ecb-and-bank-of-england-compared/): How the Federal Reserve, European Central Bank and Bank of England differ in mandate, decision-making bodies, tools and communication, and what that means for central bank policy.
- [Central bank independence explained: what it is and why it matters](https://dovojournal.com/central-bank-independence-explained/): A plain guide to central bank independence: what it covers, how the Fed, ECB and Bank of England are insulated from politics, why it matters for inflation, and its limits.

## Recent articles
- [BIS report: Basel leverage ratio reviews close first round](https://dovojournal.com/bis-report-basel-leverage-ratio-assessments/) (2026-10-13): The Basel Committee rates Australia, Japan, Korea and Switzerland compliant on leverage, and Canada and the UK largely compliant, closing its first assessment round.
- [ECB Policy and Lane's Diagnostic Challenges: What to Watch](https://dovojournal.com/ecb-policy-lane-diagnostic-challenges-speech/) (2026-10-05): Philip Lane's October 5 ECB speech is titled 'Diagnostic Challenges for ECB Monetary Policy.' We look at what that framing signals and how it sits beside Fed and BoE news.
- [BIS Report: Basel III Set to Apply in Almost All Jurisdictions by 2027](https://dovojournal.com/bis-report-basel-iii-implementation-almost-all-jurisdictions-2027/) (2026-10-05): Three quarters of the Basel Committee's 27 members have published final Basel III rules, and almost all will apply them by April 2027, after a 2023 target.
- [Central bank policy beyond rates: ECB, BoE and Fed housekeeping](https://dovojournal.com/central-bank-policy-beyond-interest-rates-ecb-boe-fed/) (2026-10-02): The ECB posted non-rate Governing Council decisions as the BoE named new enforcement panel members and a Fed speech took up eSLR. What each does and doesn't tell us.
- [Central Bank Policy: Basel III Monitoring Shows Stable Bank Capital](https://dovojournal.com/central-bank-policy-basel-iii-monitoring-report-capital-liquidity/) (2026-09-23): The Basel Committee's latest monitoring exercise shows stable large-bank capital ratios at end-2025, with Group 1 averages of 136.6% LCR and 123.3% NSFR.
- [BIS Report on FMI Cyber Resilience: Toolkit and Third-Party Risk](https://dovojournal.com/bis-report-cpmi-iosco-cyber-toolkit-third-party-risk/) (2026-09-08): CPMI-IOSCO published a voluntary cyber resilience toolkit and a discussion paper on third-party reliance at market infrastructures; comments are due December 1.
- [Fed Speeches: Warsh's Jackson Hole Case for a Quieter Fed](https://dovojournal.com/fed-speeches-warsh-jackson-hole/) (2026-08-28): In his first Jackson Hole address as chair in August 2026, Kevin Warsh set out six policy principles, questioned forward guidance and put inflation first.
- [Central Bank Policy and Payments: BoE Delays November RTGS Release](https://dovojournal.com/central-bank-policy-boe-delays-november-rtgs-standards-release/) (2026-08-27): The Bank of England deferred its November 2026 RTGS standards release, including CHAPS messaging, after Swift delayed its own over address-format readiness.
- [Central Bank Policy and Enforcement: New EDMC Leadership at the BoE](https://dovojournal.com/central-bank-policy-boe-edmc-chair-appointment-enforcement/) (2026-08-03): The Bank of England named Nicholas Segal chair and Peter King deputy chair of its Enforcement Decision Making Committee, which decides contested cases.
- [Bank of England Rates Held at 3.75% as Three MPC Members Seek a Hike](https://dovojournal.com/bank-of-england-rates-july-hold/) (2026-07-30): The Bank of England held rates at 3.75% in July 2026 on a 6-3 vote, with three MPC members backing a hike as energy costs pushed projected CPI toward 3.2%.
- [Central Bank Policy in Practice: the PRA's £4.2M HDI Global Fine](https://dovojournal.com/central-bank-policy-pra-fine-hdi-global-data-accuracy/) (2026-07-20): The Bank of England's PRA fined HDI Global SE £4,165,000 for repeated inaccurate FSCS data, a case showing how central bank policy rests on reliable reporting.
- [BIS Report 2026: Four Pressure Points for Central Bank Policy](https://dovojournal.com/bis-report-2026-pressure-points/) (2026-06-28): The BIS Annual Economic Report 2026 urged policy discipline, citing inflation risk, an AI investment surge, fragile bond liquidity and strained public budgets.
- [ECB Policy Turns: Why the June 2026 Rate Hike Marked a Pivot](https://dovojournal.com/ecb-policy-june-rate-hike/) (2026-06-11): The ECB raised its three key rates by 25 basis points in June 2026, lifting the deposit rate to 2.25% as energy costs from the Middle East war lifted inflation.
- [Fed Speeches: Waller Warns of One Transitory Shock After Another](https://dovojournal.com/fed-speeches-waller-transitory-shocks/) (2026-04-17): In an April 2026 Fed speech at Auburn, Governor Waller argued that back-to-back tariff and energy shocks could unsettle inflation expectations if unchecked.

## Policies
- [About and ownership](https://dovojournal.com/about/)
- [Editorial policy](https://dovojournal.com/editorial-policy/)
- [Disclaimer](https://dovojournal.com/disclaimer/)
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## Contact
- Corrections and tips: editor@dovojournal.com