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Tulip Inn, Schiphol, Amsterdam 2 November 2018

A fairly small, but very nicely varied buffet. Excellent choice of breads, but weak on the vegetables. Good selection of cold cuts. Nothing special, but perfectly adequate, and therefore clearly 5/10

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Giving a seminar at the University of Xiamen Wang Yanan Institute for Studies in Economics, 12 October 2018

This was also on ‘Challenges facing central banks’

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Lecturing at the University of Nottingham, Ningbo, China, 10 October 2018

This lecture was on ‘Challenges facing central banks’

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Lecturing at the National University of Mongolia, 3 October 2018

I spoke on ‘The global trade conflict and its impact on central bank monetary policy’

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Xiamen City Hotel, Xiamen, 12 October 2018

A quantum leap from earlier breakfasts on this journey. Here we truly have quantity combined with quality. I barely know where to begin. A huge selection of Chinese dishes, of course. But, equally, a very ample spread of Western food: cold cuts, fruit – fresh and canned, many different breads,…

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Lecturing to the University of Warwick Summer School at St Mary’s University, Twickenham

I spoke on The economic and social consequences of financing government spending through central banks.

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Broad money growth bottoms out, monetary policy tightening continues

Global broad money growth seems to have bottomed out – and improved in the USA Money and other indicators imply activity will diverge, US improving, EA slowing But most central banks remain in tightening mode, meaning yield curves will remain flat My previous comment (Don’t underestimate central banks’ determination to…

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On 4th May 2018, Gabriel Stein gave a lecture on ‘QE and QT’ at Cardiff Business School

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Don’t underestimate central banks’ determination to normalise policy

• The Fed remains set to raise interest rates in 2018 and 2019 • Weaker outlook elsewhere has caused speculation that other central banks won’t shift policy • But this ignores central banks’ desire to exit unconventional measures Headline US inflation (the personal consumption expenditure deflator, PCE), reached 2% in the…

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Robbing Peter to pay Paul, EU style

The European Commission apparently wants to lay its hands on the ECB’s profits. This is a bad and probably unworkable idea and is unlikely to happen. It does highlight the EU’s post-Brexit money problem. According to the Financial Times, the European Commission is considering appropriating the ECB’s profits in order…

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