Become a Professional Pensions member

Cyclical and structural factors may restrain inflation

Andrew Milligan

10 July 2017 • 3 min read

Andrew Milligan says central banks are paying little attention to the impact of cyclical and structural changes in modern economies.

Three months ago, I wrote about the implications of a continued low inflation world. I concluded that "headline inflation is less important than core inflation to central banks, so much more eviden...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
Receive important and breaking news stories via our two daily news alerts
Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

Already a Professional Pensions
member?

How trustees' emotions can hold back consolidation

Snowdon: Pilot dashboard could build more confidence in project

More on Investment

Investment

Partner Insight: Volatility, what volatility?

Looking back over the year, 2025 was a strong one for asset-backed securities (ABS) – along with a whole host of other assets. In the ABS market, we typically see spreads move in line with other markets, which have seen tightening throughout the year as demand continues to remain robust. And we see no sign of this demand slowing.

Jeremy Deacon, Head of ABS and Leveraged Finance at Royal London Asset Management

24 December 2025 • 6 min read