Preliminary business surveys for June still suggest that global growth will rebound following a weak start to the year. However, the recovery is set to remain uneven, with growth in the US (and UK)...

Devaluations have generally had a more positive impact on growth in economies which have a lot of spare capacity, where monetary conditions have been excessively tight and where a debt write-off is...

Yesterday’s FOMC statement and interest rate projections suggest that the US Fed is still on track to begin raising rates in September. Nevertheless, broader monetary conditions should remain highly...

At first sight, the concept of a sovereign default appears straightforward: a government either pays its debt, or it does not. But on closer inspection the picture is more blurred. For example, Greece...