The Taylor Swift cyclone didn’t have time to arrive in the United Kingdom – tonight the third of three concerts are held in Liverpool, followed by a date in Cardiff, then three shows in London – that observers are already amazed by the scale of the phenomenon. We’re not just talking about music critics or anthropologists, interested in understanding the reasons behind Swift’s stellar success among young people around the world. Even economists have understood that they have to deal with what the Eras Tour – this is the name of the tour – entails. Furthermore, the monetary policy makers themselves. According to a series of analysts consulted by the economic newspaper CnbcIn fact, the economic impact of the series of concerts that Taylor Swift will perform in the United Kingdom could be such as to push the Bank of England to change its decisions, postponing the expected cut in interest rates. How is it possible? Simply put: it is now well established that in almost every city where Taylow Swift takes her tour, she has the “magic power” to make the prices of hotels, flights, restaurants and other services take off, because the willingness to spend money also grows exponentially. his fans. Economists talk about «Swiftflation» to frame the specific surge in prices that coincides with the passage of Cyclone Swift. Now the American artist will not limit her British dates to this mid-June passage. After touring half of Europe – on 13 and 14 July she will also perform at San Siro, in the only two Italian dates of the tour – Swift will return to the lawn of Wembley stadium, in London, for five evenings between the 15th and 20th August. In the middle of summer and the tourist season, therefore.
The accounts (to be redone) at the bank
It just so happens that between August and September the markets are expecting the first interest rate cut by the Bank of England from the current record level (for 16 years) of 5.25%. But the conditio sine qua non for the board of the monetary institution to break the deadlock is – economic theory prescribes – a clear indication that the inflation rate is under control and indeed on a downward trajectory. Now, several serious analysts claim, the price surge around Cyclone Swift could put the decision makers at the Bank of England in serious difficulty. “We currently still see a cut in August, but that month’s inflation data could push the Monetary Policy Committee into caution in September,” chief analysts at investment bank TD Securities said on Friday. Cnbc. And what does the central bank of the Kingdom say? Officially he does not bother to answer on the possible impact of the Taylor Swift phenomenon, but he says that his Monetary Policy Committee “looks at a wide range of economic indicators when making its decisions on interest rates”.
