Institute of International Monetary Research

14/10/2026

Lyric Hughes Hale from EconVue in Chicago interviews Tim Congdon as part of his tour of the US to promote his latest book, 'Money and Inflation at the Time of Covid'

13/10/2026

Don't just take our word for it! One of most recent students commented: "I am delighted to have completed the IIMR 'Money and Prices An Introduction to Monetarism' online programme. The course offered rich insights into monetary theory, policy frameworks, and the real world dynamics of modern banking. It was intellectually stimulating, well structured, and highly relevant to today’s economic challenges. I sincerely appreciate the academic rigor and professional delivery of this outstanding programme."
With flexible online working, tutor contact and material from renowned economists, this six-week course is a great way to build your knowledge of how central banks make policy decisions, and how they affect banks and the economy as a whole.
Learn more at https://mv-pt.org/online-course/

09/10/2026

Discover our bite-size MoneyTalks videos covering everything from Basel rules, bank capital and bail-outs!

Each video is only a couple of minutes long. Watch now! https://www.youtube.com/playlist?list=PLudZPVEs3S80F10_aX-sQduj9kvhJtlKo

Discover simple overviews of key economic concepts like central banks, monetary policy and money in our series of super quick videos. Ideal for A-Level stude...

08/10/2026

Join us as a host of eminent speakers explore the legacy of Keynes' 'General Theory' at the Institute's Annual Conference on November 12th at the University of Buckingham in association with the Vinson Centre. Entrance is free, however registration is necessary. Light refreshments will be provided.

For more information, go to: https://mv-pt.org/forthcoming-events/

07/10/2026

In this month's Money Video, Tim Congdon explains that fiscal extravagance results in governments having to pay massive and unnecessary sums servicing debt - a 'moron premium' as it has been called. For the UK, running a fiscal surplus is now essential. He also points out that sound public finances have been proven to result in better macroeconomic outcomes, even if, as in the UK in 1981, tax rises have sometimes been necessary to restore fiscal discipline.

Watch now our our YouTube channel:

In this video Professor Tim Congdon explains that fiscal extravagan...

05/10/2026

We offer a range of resources for economics students in schools and colleges including free online short courses and visits, if you're a teacher we'd love to hear from you. Simply go to our website mv-pt.org and send us a message and we'll be in touch.

04/10/2026

We are excited to announce our Annual Conference on November 12 on the topic of 'Exploring the Legacy of Keynes' General Theory'. Held at the University of Buckingham in conjunction with The Vinson Centre, the event offers the opportunity to network with a host of respected names from a range of institutions.

Speakers so far include Jan Toporowski, Paul Ormerod, Tim Congdon, Guillaume Vaulet, Jagjit Chadha, George Selgin, Valentin Boboc and Roger Backhouse

Refreshments and a light lunch are provided. For more information and to register, visit: https://mv-pt.org/forthcoming-events/

03/10/2026

Delve into the topic of central bank digital currencies and cryptocurrencies in 'Money, New Means of Payment and Central Banks', a 6-week online course. It considers such subjects as the historic debates on free banking, whether cryptocurrencies can be regarded as money, and whether these new methods of payment are just a passing fad or a foretelling of the future.

Read the full details at: https://mv-pt.org/digital-currency-course/

01/10/2026

MONTHLY MONETARY UPDATE: Deposits at US commercial banks rose by just under 0.7% in August, i.e., at an annualised rate of 8.0%. This was after a couple of slower months, but annual money growth needs to be 5% or less to be consistent with the 2% inflation target. Meanwhile Indian bank credit and broad money continue to grow at annual rates in the mid-teens %, in the context of vigorous supply-side dynamism. Money growth has slowed in China since March.

We have argued in recent commentary that - with these three economies accounting for roughly 40% - 50% of world output - the world economy would have been heading for above-trend growth in 2026 before the shock of the Iran hostilities. This view still seems reasonable, although the prospect is above-trend growth, not boom. The persistence of the Gulf hostilities – and the intensification of the Russia-Ukraine conflict – make conjectures about the world economy in late 2026 and 2027 hazardous. Broad money in the Eurozone is growing at a modest level, while in the UK it has slowed recently. Japan’s giant so-called “fiscal stimulus” has undermined the yen on the foreign exchanges.

Read the full Money Note now for more insights: https://mv-pt.org/monthly-monetary-update/

Monthly monetary update Every month, the Institute of International Monetary Research produces a series of notes analysing the latest monetary trends in the world’s largest economies – …

29/09/2026

SEPTEMBER BUDGET WATCH: August was a difficult month for investors in sovereign debt. Markets have woken up to the scale of new issuance globally, while inflation prospects are clouded by military and geopolitical headwinds, particularly in the Middle East. The oil price has now been above $100 a barrel for a fortnight, with no early end in sight. The US Federal deficit in August was $168b., substantially (no less than $177b.) lower than in August 2025. But hopes for a return to fiscal seriousness were spoilt by President Trump’s political showmanship. His offer of $5,000 of 2027 tax cuts for each adult, on condition that the Republicans hold Congress in the mid-term elections, would have a potential 2027 cost of some $1,300b. Recent adverse moves in most sovereign yields have been swift. For example, French and Italian 10-year bond yields increased by 58 and 43bp respectively in a month, US and German similar yields by 32bp each, and the UK by 25bp. The trouble has been particularly serious for Japan. The 10year bond yield was practically zero in the seven-year period of 2016 – 22 inclusive but has flirted with 3% in recent sessions. This is the highest number since the 1990s.
Read more at: https://mv-pt.org/monthly-budget-watch/