Markets are underestimating the risk of sustained inflation. Structural forces that have kept inflation down for years, even decades are turning and central banks are eager to address rising inequality. We therefore anticipate major changes in interest rate and FX markets.
* For our most frequent readers and those looking for a quicker read of the main conclusions from the report; we recommend using the clickable table of contents to read the ‘Executive Summary’ and then the ‘Consequences for the financial Markets’.