Notayesmanspodcast393

This is the latest in my series of podcasts explaining how economics works in the credit crunch and now virus pandemic era. This week I give my thoughts on:- Question for Friday: How seriously do you take China’s de-dollarisation efforts? (China is methodically lowering friction for converting trade-related RMB into a hard asset via Hong Kong-linked and planned global gold infrastructure. This supports de-dollarisation efforts by making the RMB more practical and credible for settlement without requiring a full gold standard or open capital account.) As the markets are now pushing back a potential interest rate by the BoE to early 27, yet other central banks are making moves now, do you think there are actually any circumstances where Bailey thinks a rate rise is necessary. It increasingly feels as if rate rises are his kryptonite (and his supporters on the MPC)