Institutions such as the Bank of England are facing a credibility problem. Tasked with achieving a 2 per cent inflation target, many central banks have overseen dramatic jumps to double-digit levels. Even prominent central bankers have acknowledged the strain that such an outrageously large miss is placing on the credibility of their institutions.
In his op-ed to The Times, Jamie Thompson, Head of Macro Scenarios at Oxford Economics discusses reputation, inflation and what this means for the global economy.
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