Bookmarked by @pre: Danny Blanchflower and Mark Blyth: Have central banks overcooked their response to the rising rate of inflation? | HeraldScotland

Compounding this the UK will have a new Prime Minister and no Chancellor in place, and from what we have heard so far, whoever is in place hasn’t the faintest clue on how to dampen a recession when rate rises are the only topic of discussion. In such circumstances the foreign exchange market is likely to have a field day as speculators short the pound.

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