Benn Steil: China’s Bond Market Can’t Handle a Global RMB
byThe Chinese RMB’s ascension into the IMF’s SDR currency basket in October has been widely seen as an important first step on its path to becoming…
Central Banking
Mario’s Squeezy-B
byHaving already touched upon the UK’s shaky fiscal position, all that really needs to be added, now that the Chancellor has actually delivered his…
The European Banking Can Nears the End of the Road
by“The key thing to know about Lehman Brothers is that it did not cause the financial crisis, it revealed the financial crisis”[1] Central Banking…
Yield Curve Control – the road to infinite QE
byZero Yield 10 year Ever since central banks embarked on quantitative easing (QE) they were effectively taking control of their domestic government yield curves….
Perilous government finances
byPresident-elect Trump stated in his victory speech that he intends to make America great again by infrastructure spending. Unfortunately, he is unlikely to have…
Have Central Bankers “Lost the Plot?”
byRecently, the UK Daily Telegraph ran a remarkable Op-Ed written by William Hague, the just-retired Conservative politician and former UK Foreign Secretary. The title…
“Subtle forward guidance”: The marriage between best practice central banking and commodity markets
byIn the years following the 2008 crash and today, the use of forward guidance from central banking policy makers has become increasingly important. What…
Is the glut of saving behind downtrend in natural interest rate?
byIn his speech at the New York Federal Reserve of New York on October 5 2016 the Federal Reserve vice Chairman Stanley Fischer has…
USD ready for a second leg higher – then what?
byOne year ago we showed the following chart to explain the relative strong dollar that was on everyone’s mind at the time. With a…
A history of Fractional Reserve Banking – or why interest rates are the most important influence on stock market valuations? Part 1
byEditor’s Note: The following history of fractional reserve banking, by Colin Lloyd, was kindly written especially for The Cobden Centre. William Hogarth – The…