Reports that the IMF has decided not to add the renminbi to the SDR basket until September 2016 at the earliest miss two more important points. First, China’s currency may not be added to the basket...

At face value the plunge in commodity prices over the last year is consistent with a global recession as severe as that in 2008-09. However, this time it almost certainly is different. The latest...

Fears of a period of widespread deflation look misplaced, in our view, despite the recent fall in oil prices and China’s devaluation. Domestic forces will continue to be the key drivers of inflation...

China’s move to shore up the renminbi suggests that the exchange rate policy changes it announced earlier this week will have little lasting impact on the world economy. Nor will the small step...