With Australian insolvencies at a 25-year high and corporate debt defaults rising globally, many investors are hoping that central banks will significantly reduce interest rates. But Coolabah Capital’s Chris Joye thinks differently. He believes that inflation will be persistently problematic and that interest rates will remain high for a long time. Monetary policymakers face a multi-year battle to wrest inflation back to target, raising the risk of stagflation – a scenario which is not being priced by markets, according to Chris, and which would eviscerate cyclically sensitive sectors of the ec...