With Brexit settled and progress made on COVID-19, many of us would be forgiven for thinking the storm had passed. But then global supply chains fell victim to COVID-aggravated assault and, combined with a combustible mix of other factors, inflation, the beast that some legislators thought had been slayed forever, raised its head.
In this issue we have aimed to tackle the realities of inflation and what it will mean for those in the profession for whom this is new. A clear consensus is forming around the idea that inflation is here to stay – at least in the medium term. While it’s undeniable that many of the drivers of rising prices across the world have been accelerated by COVID-19, a significant structural rebalancing of the global economy is taking shape. As 2021 unfolded we saw just how powerful the combination of fiscal stimulus and monetary easing could be in terms of economic stimulus.
What it means for treasurers remains to be seen. Certainly, the profession’s younger cohort will be tested in ways they haven’t been before. As one of our contributors points out in this issue, the days of rock-bottom rates and cheap money are over. Addressing the inflationary challenge will have treasurers once again demonstrating their worth to the business.
