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Economics

In the News

Sterling's value as a macro shock absorber

Geoff Riley

19th October 2016

Is the almost twenty per cent depreciation in the sterling effective exchange rate index a significant shock absorber for the British economy? MPC member Ben Broadbent (formerly of Goldman Sachs) clearly thinks so as quoted in this BBC news article.

I held a revision webinar on Revision Webinar: External Shocks and Macro Policies which you can find here and I referenced floating exchange rates as a useful adjustment device for countries exposed to both demand and supply side shock events.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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