Dancing between raindrops: tackling an Iran-related supply shock
Comms will be critical as central banks face yet another global shock, says Jagjit Chadha
“Was the inflation shock last year temporary or permanent? …
[The answer] is always a function of the central bank response: it is not exogenous and is controlled by the central bank.”
Royal Economic Society Public Lecture, June 2022, at the University of Glasgow
Here we go again. Another supply shock faces bemused central bankers whose heads are likely to be in a spin, having suffered some opprobrium from the huge inflation shock in 2022 and temporary loss of price stability. And just when we
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