Borrowing is more expensive. Investors are holding back.
- Senior Teaching Fellow in Economics, Lancaster University
The failure of Silicon Valley Bank has exposed gaps in financial regulation that could be tricky to fill.
Against all speculation, the bank decided to hold the base rate at all-time lows for another month.
If inflation follows economic recovery, the Bank of England may be hesitant to raise interest rates enough to hold it back.
Creating lots of new money is supposed to produce runaway inflation. The longer that it doesn’t happen, the more this branch of economics appears to have a point.
Scrapping €500 notes would inconvenience money launderers; it would also help the European Central Bank to make interest rates more negative.
Greece’s loan extension agreement will keep it in the eurozone for the time being, but there’s no guarantees it can become a responsible member.
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