No money trouble

Western economies are seeing a boom – in monetary growth. Latest numbers show that the headline measures of broad money have risen by 13.1 per cent in the UK in the past 12 months, by 9.2 per cent in the eurozone, and by 22.9 per cent in the US. The latter is the fastest rate since 1943, while UK and eurozone growth rates are at 11-year highs.

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