The M&G Inflation Conference

On Tuesday we hosted a conference to discuss the longer term outlook for inflation. Our guest speakers were Adam Fergusson, the author of the brilliant book “When Money Dies” about the Weimar Germany hyper-inflation, Andrew Sentance, the famously hawkish former MPC member, and Ken Mulkearn, the editor of the Income Data Services Pay Report. Our very own Ben Lord also gave an update on developments in the linker and credit markets. Given yesterday’s Bank of England announcement of an additional £75 bn of QE, the discussions were pretty timely.

I did think about writing it up for the blog, but Andrew Oxlade of the Daily Mail has beaten me to it. Click here for his report. We did film the speakers, so we might be able to link to the video of the speeches shortly too.

Discuss Article

  1. Sean Fernyhough says:

    Is the electronic creating of money by the Bank of England catching up with the electronic creating of money by commercial banks in the previous decade or is the Daily Mail’s reporting of the conference relying on the mechanical and empirically incorrect money multiplier of old?

    It’s interesting to speculate who is benefiting from the inflation.  In particular it is unlikely to be benefitting people on median and lower incomes from wages – which are stagnant in money terms at an aggregated level and so falling in real terms.  Even those with debts.

    Corporate profits – again at the aggregated levels – are high (some would say healthy – certainly relative to wages).  

    Some of these trends may be more evident in USA than GB, but we’re probably trending in that direction.

    Posted on: 07/10/11 | 7:41 am

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