Global growth was sluggish in the first quarter, but it is likely to pick up a bit during the rest of the year. A policy-induced rebound in China and recovery in the prices of key commodities should...

The IMF warned last week that the global economic recovery was at risk of slowing to “stall speed”, below which a recession becomes inevitable. However, there is little theoretical or empirical...

Fiscal policy in advanced economies is set to be loosened this year for the first time since 2010. Governments in the US and Canada have increased spending while budget deficits in many European...

We are not convinced that negative policy rates will prompt households to save more, in aggregate, even though some may step up their savings for retirement. There are many other drivers of savings...