We’re not saying that surcharging is an end in itself, or that it’s going to be right for all circumstances. But rules against surcharging represent a restriction on the flow of price signals to the main decision-maker, and so the option to surcharge needs to be there.
Today we have an excellent line of speakers, who will be deliberating a current and important issue in the global economy: an increasingly divergent global recovery paths in growth and policies, particularly from central bank perspectives.