"We think the equity markets have got bigger macroeconomic problems to grapple with - particularly at the moment, " he said.

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Start with the macroeconomic problems.

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Some cited vague "macroeconomic" problems.

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It is the best way to ensure that problems in macroeconomic policy or within the financial sector are quickly identified.

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Apart from the statistical problems that hide inflation, there are also macroeconomic factors that have helped keep prices down despite the quantitative easing.

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