The economy as a whole: growth, inflation, jobs and interest rates, and the central banks and treasuries that steer them.
52 articles
The Iran war sent oil prices soaring and hit every major economy at once, yet the Fed, the Bank of England, and the European Central Bank all responded differently. The divergence turned not on the shock itself but on each bank's headroom, growth outlook, and framework for interpreting supply-driven inflation.
The Bank of Japan has raised its policy rate five times since 2024, yet the yen just hit a forty year low. Here is what two years of tightening have actually changed, and what is likely to happen next.
Peace on the warfront provides an opening to sift through the rubble and take account of the damage done so far.
The new chairman of the world's most powerful central bank faces a problem his predecessor spent eight years navigating and never quite solved: inflation that won't obey. Only this time, the White House isn't demanding he fix it, it's cheering it on.
Disruptions in the Strait of Hormuz are exposing the fragility of global trade, raising the risk that decades of hyper-globalisation begin to fragment.
The Iran war handed the Bank of Japan a policy trap it cannot easily escape. Holding rates to avoid a growth shock is letting the yen slide toward levels that historically trigger intervention. Hiking to defend the currency risks making the growth shock worse.
The war in Iran is testing the informal bargain that has let America borrow cheaply for half a century. The allies whose cooperation sustains that privilege had no say in the conflict, yet they are bearing its economic cost.
The MPC meets on 30 April facing a textbook stagflationary bind. The evidence favours holding steady over a premature hike.
Oil prices are being driven by geopolitics, not fundamentals, raising doubts over whether this is real scarcity or just a temporary risk premium.
How tensions involving Iran are driving energy prices and reshaping UK politics.
Six central bank holds in 48 hours, Brent crude approaching $96, and a US-Iran military conflict have shattered the consensus rate narrative of early 2026, resetting the dollar, the yen, and the entire FX outlook.