Ken Wattret
speaker
312 appearances
3 recordings
1 series
first heard Jun 2026
last heard 11 Jul
Ken Wattret’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Jul 2026 with 2.
Appearances
persistence and breadth of the rises in inflation at the time.
And they were quite late in responding.
But that meant that when they eventually did realize that this was a major inflation shock, the rate increases that they announced were very large.
And one could argue that policy rates reached levels higher than would have otherwise have been the case if they'd have responded sooner.
And that may increase the likelihood this time around that some central banks adopt a stitch-in time saves nine approach.
And we're already factoring
Bring some of that into our forecasts, including for some of the most important central banks like the ECB, where we expect that they will start to raise rates relatively soon, because they think if they move more quickly, it probably means that they will contain the inflation shock, contain inflation expectations, and they'll probably have to raise interest rates less substantially as a consequence.
Yeah, that's also a really important aspect of this shock.
The economic effects are not uniform.
Now I'm pleased to say that we've got lots of data at SP Global Market Intelligence, which helps us to answer these types of questions.
So if we look at the proportion of an economy's oil and gas supplies that come from the Gulf countries as a starting point, the countries that rank highest in that regard are generally located in the Asia-Pacific region, with countries like Japan and the Philippines at the upper end.
Of the scale and Australia at the lower end.
But we need to be cautious about how those high levels of reliance on energy imports from the Gulf translate into economic performance because there are some other factors that we also need to consider.
One is the energy mix.
An economy may have a relatively high share of its overall imports of gas, say, coming from the Gulf countries.
Of gas might account for a comparatively small share of overall energy usage.
Another consideration is the level of reserves.
Many countries in that region and globally have substantial strategic reserves, which they can draw upon.
And third, and arguably this is particularly important, the policy responses.
Some governments have quite a lot of fiscal space.
Showing 41–60 of 312 · page 3 of 16
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