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Group CA - Japan's Ageing Population

by Daniel Adebola Ayodeji Fajuke - Wednesday, 8 February 2023, 12:02 AM
 

2022 saw low levels of inflation in Japan despite many other developed countries seeing stark increases in their domestic inflation. This has been pinned down to many reasons; the pace of reopening in Japan after Covid-19 (and Asia more generally), Government efforts to control price levels and the differences in CPI composition. However, one of the demographic factors that continue to stand out in Japan is its ageing and shrinking population. This presentation/report looks to provide a deeper understanding of the issue, the economic impacts and potential policy recommendations to consider.


 

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Group EA - The Bank of England's Reserve System Structure

by Tendai Kimberly Stephanie Nyamushonongora - Wednesday, 8 February 2023, 1:22 PM
 

Britain is in the midst of a cost of living crisis with high levels of government borrowing and increasing interest rates to combat high inflation. Under the floor system, the Bank of England currently renumerates all commercial bank reserves held with them at bank rate, the official short term interest rate set by the Monetary Policy Committee. This has meant that commercial banks have been benefitting from higher interest rates as they receive more interest on their reserves . 

Is it time for the interest payments on commercial bank reserves to be taken as government tax revenue to help fill fiscal gaps? This presentation and report looks at different policy options for restructuring the reserve system.