Exchange Rate History

<p>Was there a world before inflation targeting?&nbsp;</p> <p>Alain&nbsp;Naef (Banque de France) and Carmen Hofmann (<em>eabh</em>) talk about currencies and exchange rates. More precisely about how pound sterling was managed on a daily basis, how Black Wednesday (1992) ended active exchange rate management in Great Britain and why the story of sterling after 1945 is the story of the decline of the British empire.&nbsp;</p> <p><br></p> <p>#eabhPodcast</p>