Although I hate being a Jeremiah, some things are worth worrying about. The UK’s potential energy position over the winter is very vulnerable to a crisis, especially if the weather is colder than average. Although long-run forecasts suggest the winter is likely to be wetter than usual rather than colder than usual (at least compared …
UK monetary policy to remain on hold, for now
In June this year, annual UK consumer price inflation on the central banks preferred measure (CPIH) hit 2.4%, marginally above the 2% target and the highest level since the pandemic started in 2019. It was a rate last seen in August 2018. For some commentators, it was a vindication of the view that the Bank …
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Why price inflation will remain low even with record debt
UK government debt is running at £400 billion a year or 20% of GDP. Money supply growth is rising by nearly 14% per annum and the ratio of outstanding debt GDP – 85% of the economy just last year – is set to be around 108% of GDP in the 2020/2021 financial year. Surely that’s …
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