Much of the coverage of the wider fall-out from the crisis in Egypt has focused on the potential impact on oil prices, but this threat to the global recovery is almost certainly exaggerated. Instead...

The Fed's QE2 programme of Treasury purchases is yet to have any impact on the broader monetary aggregates, let alone price inflation. The annual growth rate of our Capital Economics' measure of M3...

The upward pressure on inflation this year from the recent surge in the cost of agricultural commodities will be much greater than that from the pick-up in oil prices. Fortunately from this...

We expect growth in emerging economies to stay strong in 2011 and, generally speaking, the major challenge facing policymakers will be to ensure that inflation remains contained and that capital...