How central banks weigh the risk of inflation against the risk of slowing growth
Interest-rate decisions are a judgement about which mistake would be more costly. Here is how policymakers frame that choice.
Central Banks
Reading the bond market: what the yield curve does and does not tell investors
The gap between short- and long-term interest rates is one of the most watched signals in finance. It is also one of the most misunderstood.
Central bank independence is worth defending, even when it is inconvenient
Insulating monetary policy from day-to-day politics has costs. Abandoning it would cost more.
Why house prices are so sensitive to interest rates, and why the effect is uneven
For most buyers, the price of a home is really the price of a loan. That link explains why property markets react sharply when borrowing costs change.
What makes a currency strong — and why a strong currency is not always good news
Following the money: a guide to how global payment systems actually settle
An emergency fund is unglamorous, and it is the foundation everything else depends on
Latest in Central Banks
Video
Video: why economies move in cycles
Expansions and slowdowns follow one another. A visual primer on the forces that drive the rhythm.
Podcast
The Briefing: why central banks talk so much
Forward guidance, explained in a short conversation. This is a demonstration episode.
Explainer
Fixed, floating or somewhere in between: how exchange-rate regimes differ
Every country must choose how its currency relates to others. The choice is a trade-off between stability, monetary independence and openness to capital — and no country can have all three.
