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This webinar hosted by the Financial Times, in partnership with Schroders, was the third and final instalment in the Business Book of the Year Awards Webinar Series. These live webinars highlighted the freshest ideas and boldest thinkers in the important topic areas covered by the longlisted and shortlisted books.
Inflation has been the key economic issue of the past 12 months, dominating headlines as rates hit as high as 11.1% in the UK, 9.1% in the US and 10.6% in the Eurozone. Although these rates have begun to slow across these regions, central banks have warned that it is too early to declare the crisis over, pointing to current structural shifts occurring in the global economy that are creating uncertainty.
It is vital that monetary policies are successfully implemented to keep inflation under control. This is a truly global crisis with China on the verge of a real estate collapse, prediction on global output expansion down 0.3% and sovereign debt expanding into a wider group of economies. The question therefore is, can central banks, finance ministers and private sector leaders master these macroeconomic shifts? If so, how?
This discussion brought together experts in the field to discuss the structural changes fuelling the current inflationary environment, the role central banks will need to drive rates down and how these challenges are manifesting in different regions.
Are high interest rates a problem that needs to be solved? Or are financial markets actually more stable in these conditions?
What should central banks focus on at present? Is it, as the IMF suggests, restoring price stability and improving financial supervision?
How are China's internal problems affecting the global economy? Is it possible for the US and other markets to grow in the face of this?
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