Debts, deficits, central banks and inflation

What insights can history provide for central banks hit by large rises in government debt?

In the strange times through which much of us have lived since March, questions arise as to what the world will look like when we emerge into something approaching normality. Much obviously depends on what actions are taken and for how long the Covid-19 lockdowns continue. But some things are clear. Large parts of the UK and other economies have been closed. That has led to a sharp rise in government borrowing, and forecasts for government debt, and debt-to-income ratios, that can without

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