Blog: April 2021
Swapan Pradhan of the BIS and I begin by looking at bonds as an asset. The striking fact is that over the past 20 years there has been an explosion in global investor demand for bonds denominated in the main currencies – dollars, euros and sterling.
The impact of Covid-19 on the education sector is well documented. Schools experienced partial closures due to national lockdown for the first time in March 2020, with a second round of partial closures from January to March 2021. With schools now open to all pupils, the focus is on how to recover from this disruption. Unsurprisingly, the bulk of the narrative in the media and policy recommendations focuses on the impact of school closures on children, with talk of learning loss, and “catch-up” plans. Disappointingly, the impact on teachers and ways to support them moving forward has been far less prominent.
CPILW fell to 0.8% in March from 0.9% in February. The official CPIH measure of inflation rose significantly to 1% from 0.7% the previous month. The increase in inflation captured by CPIH may therefore be misleading, as it puts too large a weight on those sectors driving the increase.
The importance of evidence when making decisions about the implementation of services is now well understood. What Works organisations such as the Education Endowment Foundation and the Early Intervention Foundation place evidence at the heart of their work as a means of distinguishing between programmes that work and those that do not. This evidence base is important in ensuring that resources are used to support the implementation of programmes that will make a difference to the target group. This reliance on evidence is going to be vital in Covid-19 recovery plans, as programmes to support all those affected by the pandemic are put in place.