Conditional budgeting: Striking a balance in EU economic governance
In July, the European Commission fired the starting gun on the negotiations of the next Multiannual Financial Framework – the EU’s budget. Against a tough
Global merchandise trade tops expectations in H1
WTO economists raised the 2025 merchandise trade growth forecast to 2.4%. Global merchandise trade outpaced expectations in the first half of 2025, driven by increased
Wall Street advances as Trump cools China rhetoric
Wall Street’s main indexes advanced on Monday following Friday’s pullback, as investors returned to risk assets after President Donald Trump’s softer tone eased concerns over
Wall Street’s bull market nears three years old; history shows it may still have life
The U.S. stock market’s bull run is almost three years old, but if history is a guide, that would make it only middle-aged. The S&P
Bank climate commitments and green lending in emerging markets
The low-carbon transition requires substantial financial mobilisation, yet it is unclear whether banks’ public climate commitments represent real change or simply greenwashing. This column uses
Dollar dominance and the Trump administration
There is general agreement that a currency’s safe-haven status can be gauged by its response to changes in financial volatility. This column documents how, in
Stock market participation and financial education in the digital age
Stock market participation remains low, especially among the older, less affluent, and less educated households, despite its clear benefits for wealth preservation and growth. Although
The economic impact of European capital market integration
Economic growth in Europe continues to lag behind that of the US, largely due to smaller productivity gains. This column uses a general equilibrium model
25% inflation, 50 years on
UK CPI inflation in 1975 reached 25%, a period now known as the ‘Great Inflation’. This column uses a range of empirical and narrative evidence
Gold uptrend intact, but due for correction before topping $4,000 in 2026
Spot gold was trading around $3,680 per ounce on Tuesday after hitting a record $3,689.27 earlier in the session. Gold’s stellar rally to successive record
