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Is printing too much money the real cause of inflation?

1 September 2023

7:26 PM

1 September 2023

7:26 PM

Every month, the Bank of England publishes new data on the flows of money and credit around the UK economy. Most commentators focus on the ‘credit’ part – particularly the amount of mortgage and credit card borrowing. In contrast, the ‘money’ part rarely gets a mention.

This is understandable. After all, good luck explaining what ‘M4ex’ is down the Dog and Duck. (If

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