Economics

The US dollar is a little softer against most of the major and emerging market currencies.  The exception is the Japanese yen, where the greenback has moved above JPY103 for the first time in a month.  The tone is consolidative...

  The world changed after the financial crisis in 2008. What lessons can we draw on the role of central banks since then? There are at least four lessons we have learned.     The world changed after the financial...

Concern over the employment consequences of globalisation is again driving political debate. Look no further than the United Kingdom’s exit from the European Union and the rise of protectionism in American and Australian politics to see the disenfranchisement of low-skill...

The market recognizes that the indication by the FOMC at the end of last year that four rates hikes in 2016 may be appropriate was far from the mark.  At the same time, investors are coming around to the prospects...

At the end of the twentieth century, China was an observer of global governance, on the sidelines of the G7 and not yet a member of the World Trade Organisation (WTO). Encouraged by Western countries to embrace global governance, China...

The G20 has become the key vehicle for implementing and promoting global economic governance. China is set to host this year’s G20 summit in Hangzhou on 4–5 September. What can we expect from the G20 under China’s leadership? The G20...

The US dollar is trading firmly, largely within yesterday's ranges.  The odds implied by the September Fed fund futures eased to 36% from 42% before the weekend, but ahead of Fischer's Bloomberg TV appearance, and tomorrow's ADP employment estimate, the...

As China assumes leadership in the grouping, Beijing a wants greater role for Africa and the developing world in the G20. When China’s Foreign Minister Wang Yi spoke in the Hangzhou Summit in May, he made it clear that Beijing...

More than seven decades after 1945, international multilateral organizations continue to represent the victors of World War II, not the economic powerhouses of the 21st century. However, change is in the air. More than seven decades after 1945, international multilateral...

This Great Graphic comes from the Wall Street Journal.  It shows what is happening to the pay of the least compensated in the US.  Their pay is going up at a pace that is exceeding the averages and inflation. The...

The US dollar staged a strong pre-weekend rally on hints that the Fed will raise rates before the end of the year.  There was initially follow through dollar buying in Asia before a more stable tone emerged in Europe, where...

With 17 simple words and the help of clarification from her deputy, Yellen changed the near-term dynamics in the capital markets.  By saying that "...I believe that case for an increase in the federal funds rate has strengthened in recent...

The US dollar had spent the last full week of August mostly confined to narrow trading ranges against the major currencies until the Yellen spoke as at the end of the week.  She confirmed the constructive assessment of the economy...

There is growing evidence that inequality is increasing not only in Australia but also internationally within the advanced industrial economies. The age of endless growth in prosperity for everyone is a distant memory of a more hopeful age. There is growing evidence that inequality is increasing...

Analyses of state responses to the South China Sea arbitral award often frame the issue as a binary choice between a rules-based or power-based approach to international relations. However, states are unlikely to view the matter this way, because international...