Japan is emerging from its ‘deflationary mindset’. The BoJ is at risk of overshooting its inflation target over the next couple of years. It is not so clear how to…
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In summary, there is one key takeaway from the latest OBR forecasts: a growing share of the UK economy’s resources will now be directed towards debt servicing. The sensitivity of…
The Chancellor has been handed ‘horrible’ forecasts by the OBR. The outlook for growth has also deteriorated since March. UK real GDP was still 0.4% below its pre-coronavirus level in…
The Fed’s inflation problem has not disappeared due to one ‘positive’ CPI reading. There have been many premature declarations of a ‘pivot’. A single reading does not make a trend…
The reopening of the Chinese economy will be a double-edged sword for markets. Stocks may get a short-term reprieve. But the reaction of oil prices today was telling: at one…
The deflator for September was as positive for the stock market as it could have been, given the CPI report for that month. The discrepancy with the CPI marginally improves…
