King Canute and the evils of money printing

King Canute and the evils of money printing
Former Bank of England governor Mervyn King expounds on the King Canute theory of inflation. (Image: Getty)
Jenny Ruth
The view that printing money is a very bad idea has some heavyweight support.For example, former Bank of England (BOE) governor Mervyn King has decried money printing by central banks around the world in reaction to the covid-19 pandemic, labelling it a mistake.Governments around the world had deliberately shut down parts of their economies to try to prevent the spread of covid, King noted in an interview with Sky News last month.But the decision by central banks to start printing money, otherwise known as quantitative easing (QE) and involving...

More Finance

JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million. 

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025