Preliminary business surveys published today confirm that economic activity is expanding rapidly in the US and that China’s manufacturing sector has stabilised. However, the industrial recovery in the...

Bond yields and interest rate expectations have declined during the past few weeks. Moreover, our measure of the monetary base in advanced economies has expanded further as the Fed and BoJ have...

In the majority of advanced economies, policymakers allow the exchange rate to be determined by the currency markets. We think they are likely to continue doing so for the foreseeable future, for...

GDP data published today show Japan joining Canada, the US, Germany and France in regaining their pre-crisis levels of output. With the UK nearly there too, Italy is the clear laggard among the G7.