Prepare for central bank regime change

Inflation-targeting independent central banks have a longer history than most CB regimes Market complacency that current regimes will remain is probably too optimistic Most new regimes mooted mean higher, more volatile inflation and thus lower growth Central bank and monetary policy regimes last longer than expected, but also change faster…

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Central Banking – Responsibility without Power

So far in this series of articles, we have considered the immediate challenges in front of central banks, which in a nutshell revolve around the normalisation of monetary policy and the re‑establishment of a more orthodox relationship with markets.  In this final article we consider the longer term outlook, once…

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