Category: Monetary policy

The cycle will always be with us

Mark Twain is alleged to have read a newspaper account of his own passing and declared ‘the reports of my death have been greatly exaggerated’. That story may well be apocryphal. But it has stood the test of time rather better than Gordon Brown’s now infamous claim as Chancellor that there would never be a … Continue reading The cycle will always be with us

Bank of England needs to act now to curb inflation risks

The Bank of England may finally be ready to take the foot off the accelerator – at last. The latest economic data already seem to have persuaded some members of the Monetary Policy Committee (MPC) that the time to scale back the emergency stimulus is fast approaching. I think this should start at the August … Continue reading Bank of England needs to act now to curb inflation risks

Ignore the gloomsters, the economy is roaring back

The horror! Yesterday we discovered that UK economic output — as measured by GDP — fell by 1.6 per cent in the first quarter of the year, 0.1 per cent worse than the 1.5 per cent originally reported. This is practically a rounding error. To put it in context, as recently as March the Office for Budget Responsibility, … Continue reading Ignore the gloomsters, the economy is roaring back

Forget Bitcoin’s latest collapse, digital currencies are still the future

The latest slump in the prices of Bitcoin (and many of its peers) has put a serious dent in their credibility as a reliable means of payment, let alone as a store of value or a sound investment. But this is certainly not the end for digital currencies. If anything, the crash in the prices … Continue reading Forget Bitcoin’s latest collapse, digital currencies are still the future