Increase in aggregate demand due to rejuvenated spending Namely, if you can envisage that prices will rise, many of you might wish to purchase things that you can buy as much as possible before the prices rise.
For the rest of the evening, I would like to focus on a medium term structural issue that never seems to go away - global imbalances, and offer my views on what role exchanges will be able to play in meeting this challenge. Global imbalances Let me begin by briefly laying out how unbalanced the world is.