For the first time since gaining independence 25 years ago, the Bank of England faces high inflation. Simultaneously a new ministerial team seems intent on loosening fiscal policy. In the last 50 years there were three significant peaks in inflation before the current rise. How do these compare with today’s circumstances and are there lessons to be learned from the past?
Six lessons from Black Wednesday for today’s central bankers By David Marsh Britain’s forced departure from the exchange rate mechanism of the European Monetary System 30 years ago was a landmark in UK and European economic history. The saga of monetary misfortune contains significant lessons for contemporary policy-makers.
MEETINGS In conversation with Charles Evans: the future of the US economy Tuesday 27 September, Broadcast Charles Evans, president of the Federal Reserve Bank of Chicago, joins David Marsh, OMFIF chairman, for a conversation on the future of the US economy and the path to recovery.
ON DEMAND Bank of England independence under Truss A fundamentally weak pound is not the best platform on which to base uncertainty about the Bank of England’s future. But, barring the withdrawal of independence, there are – after 25 years of the Monetary Policy Committee – real opportunities to make new UK Prime Minister Liz Truss’ review constructive.
LATEST REPORT Sustainable Policy Institute Journal In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stage.
