Analysis – Monetary policy and the value of the public debt

Gerald Holtham, John Llewellyn

Llewellyn Consulting
April 23, 2021

Pressure is set to mount on governments to start to reduce their national debt
Yet paradoxically US and UK post-crisis monetary policy practice stands to increase it
Changes in the operating procedures of these two central banks seem likely
One way could be sterilisation of some...

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