Ian Campbell taught English at the Université de Poitiers before studying economics. He was Chief Economist, Emerging Markets at ABN AMRO Bank, Head of Latin American Research at BancBoston Securities and Regional Director, Latin America at the Economist Intelligence Unit. Since becoming a journalist in 2000 he has written for The Washington Post, The Times, The Independent, The Economist, The Globe and Mail, The Chicago Tribune, The New Statesman and other publications. From 2000 to 2003 he was Economics Correspondent for the UPI press agency. He has recently returned to the UK, where he is writing a book on rural Mexico.
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Pay for British new hires is rising faster than inflation. That may sound like a harbinger of accelerating prices, but it is actually just a healthy catchup. Real earnings have fallen heavily in the crisis. On wages, the Bank of England has a few years of respite.
The tech-heavy exchange’s main index has tumbled 6 pct in a month. The sharp rise and recent fall are less alarming than the dot-com bubble of the 1990s. With global liquidity pumps mostly still hard at work, however, software and web stocks are still telling investors something.
The euro is at uncomfortable levels partly because quantitative easing is pulling down other currencies. A radical idea is that the ECB could respond by adopting QE and buying U.S. Treasuries. Direct FX intervention would break the rules but might lead to discussion and disarmament.
- Global house price surge calls for QE door to shut
- Lower inflation could bring sterling down
- UK’s political budget transfers from young to old
- Market adjustment is not over yet
- Russia harms the BRICs and adds to global risks
- Slicing the cake better can make it bigger
- UK GDP offers partial vindication for BoE caution