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Why EMs are "leading the world" into negative growth.
Emerging markets and their currencies are leading the world into negative growth, a bold statement from Saxo Bank’s Chief Economist Steen Jakobsen. He argues that EM devaluation policies are influencing Western central banks to introduce rate rises sooner than they would like. This is despite policy makers telling us that “rates will stay low for longer”.
For more details on Steen Jakobsen's view on what he calls "the powerful illusion of central banking" click here https://beta.tradingfloor.com/posts/powerful-illusion-central-banking-1840149619,
02:29 minutes
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