It’s not the first time that FT Alphaville has reported on potentially destabilising currency shortages in the international financial system and the emergency swap arrangements central banks have taken to ease them.Usually, however, such shortages are focused on illustrious hard currencies like the US dollar or (in the case of eastern European mortgages), the Swiss franc or the euro.While technically sterling still qualifies as a hard currency reserve asset, it’s been a long time since anyone had much love for it. The Great British Krona, as we have likened it, has been beaten up in the markets ever since the UK opted out of the European Union. But in an unexpected turn of events, the Bank of England announced an intriguing swap arrangement with the Bank for
FT Alphaville considers the following as important:
This could be interesting, too:
Menzie Chinn writes A Monetarist Manifesto for the Covid-19 Era
Tim Harford writes Fear, Scouting, and when can you trust a statistic?
Monica de Bolle writes A billion COVID-19 vaccine doses are only the first step
It’s not the first time that FT Alphaville has reported on potentially...