Finance

Markets, monetary policy, investment and the global economy.

European central banks are proposing a different liquidity rule for issuers.

Resilience in large economies coexists with geopolitical and inflation risks.

The first major overhaul since 2017 adds domestic debt, climate exposure and longer-term risks.

Forward guidance is being reconsidered as shocks become harder to forecast.

Reserve status rests on deep markets, trusted institutions and network effects.

Domestic debt can conceal serious pressure on banks, pensions and public budgets.

Data centres, chips and power networks are becoming a linked investment cycle.

Markets can price a technology quickly; economies absorb it slowly.

Preventive investment competes with urgent spending despite often producing larger long-run savings.

Digital payments expand access, but access alone does not guarantee resilience.