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Jan 13, 2025 | 
centralbanking.com | Jagjit Chadha |Christopher Jeffery |Daniel Hinge |Daniel Blackburn
Tweet Facebook LinkedIn Save this article Send to Print this page There has been much wringing of hands about the recent increase in the UK government’s borrowing costs. This obviously matters as it will constrain fiscal policy, but the increase in long-term interest rates is not unexpected and it does not necessarily represent a loss of confidence in the government. What matters is identifying the underlying cause of the increase in borrowing costs.
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Oct 21, 2024 | 
economicsobservatory.com | Jagjit Chadha
When we look at the UK’s desperately poor recent social and economic performance, whom do we hold responsible for such an enormous failure of public administration? I believe that we need a serious examination of our economic progress to be thoroughly and comprehensively produced every year. In this way, we can all gauge progress and the Chancellor can explain what has gone well and what could go better. Over time, this would bring about more focus on and resolution of our economic malaises.
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Sep 27, 2024 | 
centralbanking.com | Jagjit Chadha |Christopher Jeffery |Daniel Hinge |Daniel Blackburn
Tweet Facebook LinkedIn Save this article Send to Print this page In common with many other central banks, Sveriges Riksbank recently outlined the losses it is likely to suffer from its asset purchase programme at some Skr61 billion ($6 billion, around 1% of Swedish GDP) and has sought a recapitalisation.
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Sep 25, 2024 | 
thetimes.com | Jagjit Chadha
While the headlines of last week’s Bank of England decision were captured by the 8-1 vote to maintain its interest rate at 5 per cent, an equally important decision was largely overlooked. This was to reduce the rate at which the Bank is selling bonds back to investors. This so-called quantitative tightening will shrink the Bank’s balance sheet by another £100 billion in the coming 12 months.
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Jul 3, 2024 | 
niesr.ac.uk | Jagjit Chadha |Sayantan Ghosal |Graeme Roy |Monica George Michail
For many years, the UK economy has been marred by low growth and flatlining productivity, both by historical and international standards. We’ve been lagging behind other developed economies, and it is making it difficult for everyone to make ends meet. With GDP per head currently below where it was at the last general election, the average person is now worse off than they were five years ago. This matters because it puts real pressure on public finances.
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Apr 15, 2024 | 
centralbanking.com | Jagjit Chadha |Christopher Jeffery |Daniel Hinge |Dan Hardie
Tweet Facebook LinkedIn Save this article Send to Print this page While the Bernanke review of forecasting at the Bank of England provides a welcome moment for us to assess the mistakes that have resulted from the current practices of the monetary policy committee (MPC), it should not be the final word. The original sin of economic forecasters is that they will always be wrong.
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Apr 7, 2024 | 
theguardian.com | Jagjit Chadha
My father, Manmohan Singh Chadha, who has died aged 84, was a talented entrepreneur. He set up a series of successful companies, initially concerned with the wholesale food distribution of south-east Asian foods and latterly an investment company focused on industrial warehouse space. Manmohan was born in Roopwal, British India, to Dropadi (nee Sethi) and Saradar Singh Chadha, and was a survivor of partition in 1947 along with his parents, six sisters and two brothers.
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Feb 29, 2024 | 
cambridge.org | Jagjit Chadha
Get accessCited by 3Chadha, Jagjit S. 2022. MONETARY AND FISCAL POLICY REDUX—THE MINI-BUDGET. National Institute Economic Review,Vol. 262,Issue. ,p. 1. CrossRefGoogle ScholarBroadberry, StephenChadha, Jagjit S. Lennard, JasonandThomas, Ryland2023. Dating business cycles in the United Kingdom, 1700–2010. The Economic History Review,Vol. 76,Issue. 4,p. 1141. CrossRefGoogle ScholarUnderhill, Geoffrey R. D. andJones, Erik2023. Optimum financial areas: Retooling the governance of global finance. The World Economy,Vol.
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Aug 8, 2023 | 
centralbanking.com | Jagjit Chadha
Global growth is stalling. The question for us is whether it matters and, if so, what should be done? There is a respectable argument for saying “so what?” Global prosperity is at the height of human achievement, and it could be that our next set of priorities are about securing our standards of living rather than their augmentation. But global economic growth this year and next will be the slowest since the aftermath of the financial crisis (except for Covid-hit 2020).
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Aug 8, 2023 | 
centralbanking.com | Jagjit Chadha
Tweet Facebook LinkedIn Save this article Send to Print this page Global growth is stalling. The question for us is whether it matters and, if so, what should be done? There is a respectable argument for saying “so what?” Global prosperity is at the height of human achievement, and it could be that our next set of priorities are about securing our standards of living rather than their augmentation.
