Dollar steady before US inflation report, US-China tariff deadline
The euro was up less than 0.1% at $1.1652, while sterling was flat at $1.3462. The U.S. dollar was little changed on Monday before Tuesday’s
Currency markets brace for US inflation data
China’s yuan was flat at 7.195 per dollar in offshore trading. Currency markets were in a holding pattern on Tuesday, with traders’ reluctance to make
Strong Japan GDP lifts yen, dollar steady as rate cut fervour cools slightly
Dollar on course to end week flat against EUR; lower against JPY, GBP The dollar was largely steady against the euro and British pound on
Oil steadies as investors mull US tariff impacts
Investors weigh impact from Trump threats over Russian oil. Oil prices were little changed on Friday and heading for a weekly gain as investors weighed
The supply side of monetary policy: How floating-rate loans blunt the ECB’s fight against inflation
Central banks raise interest rates to reduce aggregate demand and bring inflation down. This column uses credit register data and product-level price data from the
Inflation targeting: Its current state and key challenges
Inflation targeting has emerged as the dominant monetary policy framework in advanced and emerging market economies. This column discusses three main challenges faced by inflation-targeting
The making of a supply shock: Tariff propagation via domestic production networks
President Trump’s “Liberation Day” announcement triggered a discussion of whether import tariffs can reduce trade deficits or boost certain industries. This column develops a model,
Households’ subjective expectations: Disagreement, common drivers, and reaction to aggregate shocks
Understanding how households interpret macroeconomic policy is vital to the effectiveness of central banks. This column demonstrates that the reactions of individual households frequently contradict
Understanding country income: World Bank Group income classifications for FY26 (July 1, 2025–June, 2026)
Every year, the World Bank Group classifies the world’s economies into four income groups: low, lower-middle, upper-middle, and high. These classifications, updated each year on July
The rise and retreat of US inflation: An update
During the pandemic, annual CPI inflation in the US rose sharply to a peak of 9% in June 2022. This column argues that the rise
