Late on Friday the People’s Bank of China (PBOC) appeared to signal its intention to shift towards managing the renminbi against a currency basket rather than the US dollar. This has added to...

The latest slide in the price of crude oil is clearly unsettling the financial markets, but it should not materially affect the prospects for the global economy. Even if prices remain below $40 per...

We do not think that higher US interest rates will derail the global recovery next year. The Fed is only likely to tighten policy if the economy continues to do well. Other major central banks will...

There is no doubt that world trade growth has slowed sharply this year. However, we are wary of reading too much into the latest slump in trade. Exports from and imports to advanced economies have...