Chris Gilchrist: No such thing as ‘normal’ for finance

In my university studies, I was very impressed with Thomas Kuhn’s Structure of Scientific Revolutions, in which he coined the term “paradigm shift” to describe how science shifts abruptly from one view of the world to another. Economics has seemed immune to paradigm shifts. The radical Keynesian view was never adopted widely and has been […]

Philip Hammond rules out emergency Budget

New Chancellor Philip Hammond has ruled out the emergency budget George Osborne promised before the EU referendum. Osborne said a budget would be necessary if the UK voted to leave the EU. But speaking to Sky News Hammond ruled out a budget which Osborne said would include £30bn of spending cuts. He also refused to […]


BoE’s stimulus plan frustrated as gilt buyback falls short

The Bank of England has failed to attract enough investors to buy back Government bonds following its post-Brexit economic stimulus plan. The Bank offered to buy back £1.17bn of long-dated gilts but received offers of only £1.11bn, leaving it with a shortfall of £52m, the Guardian reports. This morning the BoE will reveal its plans […]


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