UK inflation didn’t just come in higher than expected in February, it rose to a higher level than in January, continuing an uptrend trend seen in central Europe two weeks ago. Are we on the cusp of a reacceleration in inflation? And what does 18% inflation in food prices really mean?
The biggest story is what central bankers are going to do about this threat. Because they now face their ultimate nightmare scenario: a banking crisis and inflation, at the same time.
What’s so challenging about that? The appropriate policy for a banking crisis is precisely the opposite to one for fighting inflation. Which creates an impossible dilemma for central banks.
What’ll they do? And who’s fault is that banking crisis in the first place?
Find out, from Nigel Farage…
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[Please note that there were a few technical issues during filming, so our apologies if the sound cuts out on occasion.]
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Editor, Fortune & Freedom