Group Research


Extraordinary circumstances require global fiscal-monetary coordination

“We are all Keynesians now.” That was notoriously stressed by US president Richard Nixon in 1971, months before engineering...

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Fed cuts interest rates to zero and pours liquidity into the system


The coronavirus outbreak is seriously disrupting economic activity in many countries and has significantly affected global financial conditions. The outbreak...

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Acute risk-off sentiment a mixed bag for the USD

The fallout from the global spread of Covid-19 has already produced an epic sudden change in risk sentiment from rampant...

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Fed surprises with an emergency cut to respond to virus

The Federal Reserve (the Fed) unanimously agreed to an emergency cut of their policy rate by 50 basis points (bp)...

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Persistently low inflation makes it difficult to hit inflation targets

At the start of the year, global growth appeared to have bottomed out and our expectation was for a modest...

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