Day: September 17, 2020

Equites fall again, BoE talks negative rates

Markets chose to take a negative view on the extended period of near zero interest rates signalled by the Fed, says NAB’s Gavin Friend. It’s a reminder that it’s the virus that determines the extent of the recovery, everywhere.

The mythical world of NAIRU

Even now, central banks cling to the idea of NAIRU – a point at which unemployment gets so low inflation kicks off. But, with the US fed now expecting interest rates to remain close to zero for three years at least, Phil Dobbie asks Prof Steve Keen whether they have they abandoned the idea of NAIRU?

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