Argentine President Milei's ambitious stabilisation plan suffered a major blow in the past week and flipping the primary balance back into surplus is now looking increasingly difficult. Elsewhere...

We are pushing back the timing of when we think the central banks of the Philippines and Indonesia will cut interest rates. Although inflation is within target in both countries and domestic demand is...

President Xi this week made clear that faster productivity gains are central to his “high-quality development” agenda. Focusing on raising productivity is a good idea in principle but making it a...

Tentative signs of an increase in services press pressures support the view of ECB policymakers who are concerned about the strength of domestic inflation. We still think that the data will support an...