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...

The recent run of weak trade data has raised fresh concerns about the health of the global economy. However, the fall in the value of trade over the past year mostly reflects lower commodity prices...

The declines in the cost of crude oil since May have revived concerns about global growth and deflation risks. However, the falls mainly reflect positive supply-side developments and are also small...