Comments made at the Tokyo Economic Global Forum earlier but Eamonn left it to me for ol’ times sake!
Says Merve the Swerve
Many countries today can see that they have taken monetary policy as far as they can go
Exchange rate policy may now become an instrument of monetary policy
I think it already has Merv, but thanks for popping by
Since exchange rates are a zero sum game, there is a risk of currency war
- disequilibrium in world economy is causing chronic weakness in demand and this must be addressed
- monetary and fiscal stimulus may not be able to bring a recovery unless disequilibium is addressed
- clear signs of recovery though in UK and US
Merv the Swerve in “there’s a currency war going on” scoop
