The Lessons Learned From the LDI Crisis

The UK has a more instructional inflation issue than other parts of the world. It's just about how the subsidies were dished out and other market quirks around food inflation, you name it. The fact that there are these disturbances doesn't make the UK a structurally high inflation region. And my worry is that when you look at how monetary policy is being administered now, I do not think that caution is central to the case.