This recession is not like any other in living memory. Phase one involved a massive supply shock. Phase two will involve dealing with a collapse in demand.
The only way out of South Africa’s crisis - financially wobbly utility Eskom, worsening public finances and poor economic growth - is a societal agreement that recognises the need for sacrifices.
New Zealanders store just under NZ$178 billion of their cash in banks, but their savings aren’t insured. This would change if the government introduces a deposit insurance.
Young people in the UK experience some of the worst working conditions. To understand why we need to look at longer-term changes in the political economy.
US sanctions announced earlier this month may have triggered the plunge in the lira, but the government has been mismanaging Turkey’s economy for years, creating severe vulnerabilities.
While the RBA might not be able to influence the current cash rate, it can still influence longer-term rates by offering guidance about its future policy decisions.
The London Interbank Offered Rates is one of the world’s key financial tools, but the 2008 rigging scandal has led to calls for its being phased out. Can we find better ways of building the LIBOR rate?