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Podcast: Beyond Currency
Episode: 19 July 2022 - Saunders parting shot, more hikes
Description: Michael Saunders' parting shot as he leaves his position on the Monetary Policy Committee has been to call for interest rates to be hikes to reach 2% within a year.
Saunders was calling for interest rates to rise long before his colleagues agreed with him and he has constantly voted for the size of hikes to be increased.
Saunders believes that rates still have some way to go to reach the neutral point where they are neither stimulating or restricting the economy.
The current wave of inflation which has become a global phenomenon over the course of 2022 is based upon demand...