Brexit and Bitcoin both start with the letter “b”. Does the similarity stop here? As it turns out, no. Both these words refer to concepts that are quite alike. Of the two, Bitcoin is probably the least toxic.
A recent working paper published by the International Monetary Fund looks at the impact of unconventional monetary policy on an open economy, taking Canada’s case as an example.
The paper’s main finding is that unconventional monetary policy by the Canadian central bank has had expansionary effects on the Canadian economy. Continue reading
As we are about to hear again that there has been insufficient progress in the talks between Britain and the European Union, it becomes clearer that there never can be enough progress. The Brexit that Britain seeks simply does not exist.
Tolstoy’s famous quote about unhappy families offers a very good explanation as to why: “All happy families are alike; each unhappy family is unhappy in its own way.”
Central banks are still worried about the danger of deflation, even though they have timidly started to lift interest rates. How else would they explain real negative rates almost everywhere in the developed economies?
As if we didn’t know already, last week we got another reminder of the economic disaster that Brexit is shaping up to be: Retail sales weakened in the UK, as price rises eat into consumers’ purchasing power.
Britain’s relationship with the European Union is becoming so fraught that even one of the most moderate members of government finds it hard nowadays to use the right words when talking about it.
Last week was a feast of records for Wall Street: the S&P 500 recorded six consecutive highs, something not seen for two decades. The streak only ended after a jobs report that showed the first negative reading in seven years, skewed by the hurricanes that hit the U.S. in September.
The scenes in Catalonia, where local authorities say more than 400 people were hurt by police, are reminiscent of violent scenes in Eastern Europe that have tested, time and again, the European Union.
The excitement that had been building up before the Florence speech of UK Prime Minister Theresa May is quickly turning into disappointment. Many had expected the Prime Minister to find a way to unblock the stalled negotiations over Brexit, but the speech, as delivered, was far from achieving that.