Higher energy prices will push headline inflation up in Switzerland this year, but we think that it will remain well within the SNB’s target range. So rather than raising interest rates as is...

The fall in inflation in Brazil to 3.9% y/y in the first half of March is likely to be temporary amid the rise in global energy prices, but we think it would take a much larger energy shock to derail...

The state of emergency now in place in the Philippines gives the government powers to address the most acute strains in access to essential inputs, but it won’t prevent an economic shock. The central...