The Japanese yen’s recent depreciation against the dollar has elicited much market hand-wringing about how officialdom might respond and whether authorities could intervene to staunch the decline. But the foreign exchange market’s fretting seems overdone. There are good fundamental reasons for the yen’s depreciation. Trading in yen is orderly. There should be little for the FX market to get terribly excited about.
European exceptionalism and Ukrainian war By David MarshIn The Worm in the Apple, Christopher Tugendhat explains how the Conservatives – the dominant party in post-war Britain – switched from general pro-European sentiment after 1945 to scepticism or downright opposition in the past 30 years.
MEETINGS Chief economists briefing Tuesday 5 April This virtual roundtable will assess monetary and fiscal developments across the euro area, UK and US. The discussion will include inflation expectations, prospects for growth, the impact of Russia’s invasion of Ukraine on global markets, supply chain disruptions and rising energy prices.
ON DEMAND The revival of inflation and the threat to central bank independence Charles Goodhart, emeritus professor of economics at the London School of Economics and Political Science, talks to David Marsh, chairman of OMFIF, about the effects of demography and immigration, the revival of inflation and the threat to central bank independence.
Inflation: supply or demand led? This edition of the Bulletin grapples with the global and insistent issue of inflation. It delves into the various causes of the current bout of inflation, including supply chain issues and soaring energy prices.
