Coverage of fiscal and monetary policy, regulation, taxation, and geopolitical decisions that influence markets and everyday life. We break down government action and its economic impact.
Fiscal Policy
Ghana is preparing to exit a $3 billion IMF bailout programme by August 2026, and it is doing so from a position that would have seemed unimaginable during the country's 2022 debt crisis. At that time, inflation was above 54%, the cedi had lost most of its value,
Fiscal Policy
Germany's decision to borrow over €180 billion in 2026, with €83 billion earmarked for defence alone, is not just a German story. It is reshaping the fiscal and industrial logic of the entire European Union. The move has created a precedent that other EU countries are watching closely.
Monetary Policy
At the April 9 Spring Meetings curtain raiser in Washington, IMF Managing Director Kristalina Georgieva delivered the clearest guidance to central banks that the fund has issued in years. Her message was precise: stay on hold for now, but have a clear trigger ready for action. There is value in
Politics
Argentina is the rare economy where things are genuinely getting better, and the speed of the improvement is catching the attention of policymakers well beyond Buenos Aires. After hitting inflation of nearly 290% in 2024, the country has brought that figure down toward low double digits through a combination of
Monetary policy
The Bank of Japan kept its benchmark interest rate at 0.75% at its March meeting, the highest level since 1995. The decision was expected, and passed 8-1, with one board member pushing for an immediate move to 1%. The Bank's official position is that Japan'
Monetary Policy
The European Central Bank had been on a path toward lower interest rates heading into 2026, with its deposit rate at 2% and inflation broadly near target. That plan hit a wall on March 19 when the ECB postponed its planned rate reductions, raised its 2026 inflation forecast, and cut
Monetary Policy
The Federal Reserve held rates steady at its March 18 meeting, keeping the federal funds rate in the 3.50%–3.75% range. It was the second pause of 2026, following three consecutive rate cuts that closed out last year. Chair Jerome Powell acknowledged plainly that near-term inflation expectations
Fiscal Policy
France is facing a manufacturing crisis. Factory closures jumped 30% in the first quarter of 2026 compared to the same period last year. Industrial production is contracting. Jobs are being lost. And there's no quick fix in sight. The dual pressures of Asian competition and US tariffs are
Monetary Policy
A wave of interest rate cuts is sweeping across Africa as inflation finally eases after years of pain. Six central banks cut rates in the first quarter of 2026: Kenya, Egypt, Angola, Ghana, Mozambique, and Zambia. It's one of the most coordinated monetary easing cycles the continent has
Monetary Policy
New Zealand just delivered an inflation surprise that's forcing the Reserve Bank of New Zealand to completely rethink its monetary policy plans. Consumer price inflation came in at 3.1% for the fourth quarter of 2025, above the RBNZ's 1% to 3% target band and well
Monetary policy
The Reserve Bank of Australia raised interest rates again on March 17, lifting the cash rate by 25 basis points to 4.10%. This is the second consecutive hike, and markets are pricing in at least one more before the cycle ends. The decision was narrow. The board voted 5
Fiscal Policy
China just announced its GDP growth target for 2026, and it's the lowest in decades. The government is aiming for 4.5% to 5% growth, down from around 5% in 2025. That might not sound like a big drop, but for China, it's a massive shift.