“At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan assessed the virtuous cycle between wages and prices, and judged it came in sight that the price stability target o…| Convex Strategies
“I have been working in or around central banks for over fifty years. To my regret, as I look back on my career, I can now see that I was often guided by an evolving set of false beliefs about how …| Convex Strategies
“To ensure that a central bank does not prioritise the solvency of the sovereign over its primary mandate of price stability, the European treaties prohibit monetary state financing. In its public …| Convex Strategies
Last month we titled our Update “Recession. Yay!” in which we said this: “As we have stated over recent months, the ‘good outcome’ would be to get to the recession, and we see people willingly buy …| Convex Strategies
Sorry, but we must return to our often-used Hayek quote yet again. “We are ready to accept almost any explanation of the present crisis of our civilization except one: that the present state of the…| Convex Strategies