This week’s featured stories 09 November – 15 November 2026…
Modern financial institutions exist to build and sustain trust across society. Charles Goodhart and Ly Hoang Vu argue that AI creates new threats to this trust that could undermine the financial system, requiring policy to adapt
Clare Lombardelli of the Bank of England notes the labour market is cooling primarily via less hiring rather than more firing, and worries that protecting existing workers could make it significantly harder for those seeking to enter or switch jobs
The cost of moving crude is skyrocketing
OPEC says freight and insurance on Middle East–East Asia VLCC shipments jumped from 5% of total costs in late January to 30% by late October, as freight climbed about 12-fold to $37.13 per barrel and insurance soared over 200-fold to $12.29/bbl
Preparing the euro for the future
Timely progress on the Single Currency Package is key for Europe’s autonomy in payments, says the ECBs Piero Cipollone before the European Parliament. This will safeguard the role of cash and give Europeans a digital form of it
The US economy and considerations for monetary policy
The Fed’s Michelle Bowman reviews the latest FOMC policy meeting, assesses US economic conditions and the near-term outlook, and considers energy market developments, the AI buildout and the appropriate path for monetary policy
Climate risks remain monetary risks
As climate shocks continue to impact Europe’s economy, Uuriintuya Batsaikhan says outgoing ECB President Christine Lagarde’s successor must continue her work to mitigate them
Trade cooperation can help accelerate climate action
UNCTAD analysis shows how trade policies can help countries cut emissions, strengthen economic resilience and create new development opportunities
Central bank independence in today’s world
In today’s shock-prone world, Andrew Bailey argues that independent, accountable central banks are more vital than ever for controlling inflation and safeguarding financial stability, and is optimistic about AI’s benefits for productivity and growth, while outlining the financial stability risks it poses
New technology, old questions: productivity puzzles and the macroeconomy
Fed Vice-Chair Philip Jefferson examines how rapid technological change affects the US economy, and what that could that mean for monetary policy
Trust beyond face-to-face contact: AI and the future of finance
Modern financial institutions exist to build and sustain trust across society. Charles Goodhart and Ly Hoang Vu argue that AI creates new threats to this trust that could undermine the financial system, requiring policy to adapt
American inequality and the future of AI
Michael Barr argues that AI has enormous potential to raise productivity and living standards, but without the right policies and competitive market conditions it could also accelerate wealth concentration and economic inequality
McKinsey & Company Global Banking Annual Review 2026
Banking outdid itself—again—earning a record $1.3 trillion in profits in 2025. Now the AI disruption dividend is up for grabs, and it will go to the banks that move with precision and speed. This time, there is no grace period
Europe’s fridge attacks and the cybersecurity lessons we keep forgetting
Asha Hemrajani explains how the recent cyberattacks on European supermarket fridges show that simple lapses in cyber hygiene can cause substantial economic damage. She calls for rethinking which infrastructure warrants protection and strengthening operational technology security
In this episode of The Sound of Economics, the podcast from Bruegel, host Rebecca Christie speaks about France’s politics and economy with Bruegel’s Jean Pisani-Ferry and Shahin Vallée, senior associate fellow at the German Council on Foreign Relations
A changing world economy calls for stronger trade partnerships
UNCTAD urges a stronger multilateral trading system, deeper South-South cooperation and sustainable industrial partnerships to help developing countries navigate a shifting global economy
EU-UK carbon market and CBAM discussions advance ahead of summit
EU-UK talks on linking carbon markets and possible CBAM mutual recognition continue ahead of the 20 November summit. A draft joint statement covers carbon pricing, electricity and agricultural trade, but final legal exemptions and backdating remain unagreed
EU and Parliament agree extra free ETS allowances to curb carbon leakage
Parliament and Council negotiators reached a provisional deal on roughly 120 million additional free EU ETS allowances for industry from 2026-2030 under heat and fuel benchmarks. The measure aims to protect energy-intensive sectors against carbon leakage while directing remaining allowances to innovation funds
Hormuz disruptions continue to elevate trade finance and shipping costs
Security incidents in the Strait of Hormuz keep freight and insurance costs elevated (about 10 times pre-conflict levels in some segments) and have led multilateral banks to expand trade-finance guarantees. Alternative routes and recovered volumes have not fully offset the risk premia on energy and commodity flows
BusinessEurope Autumn 2026 Economic Outlook
BusinessEurope’s latest Economic Outlook warns that short-term resilience masks inflationary and fiscal risks
US midterm results raise questions over future of tariff policy
Democratic gains in Congress, partly driven by voter concerns over tariffs and inflation, may give trading partners more leverage in negotiations. Existing tariff authorities and revenue needs are expected to limit any rapid reversal
The US midterms give business leaders a moment to reassess their priorities and plan ahead. PwC Executive Insights continues to explore the changing business landscape and the strategic issues shaping executive decisions
UK advances mandatory forced labour due diligence and market ban powers
The UK government announced plans to legislate mandatory human rights due diligence for large firms (global or UK turnover over £350 million) and powers to remove goods made with forced labour from the UK market. The move aligns the UK more closely with EU and US practices and responds to supply chain concerns
US-China trade truce extended through January ahead of APEC summit
China and the US have extended their tariff truce by two months to 10 January 2027, keeping the suspension of additional 24% Chinese tariffs (10% remains) and of related measures such as port fees and export-control pauses. This steadies trade flows and supply chains ahead of the expected Trump-Xi meeting at the APEC summit in Shenzhen
China’s trade surplus tops $1 trillion as AI demand drives exports
China’s January-October trade surplus exceeded $1 trillion for a second year, with October exports rising 35.2% year-on-year. Semiconductor and high-tech product shipments surged amid the global AI infrastructure boom, offsetting weak domestic demand and heightening tensions with the EU and other partners
ASEAN signs landmark region-wide Digital Economy Framework Agreement
ASEAN economic ministers signed the Digital Economy Framework Agreement (DEFA) in Manila on 14 November, the world’s first region-wide, legally binding digital economy pact. It covers digital trade, cross-border data flows, payments, cybersecurity and AI, aiming to scale the regional digital economy toward $2 trillion by 2030 and reduce compliance costs for businesses
AfDB approves $200 million trade finance facility for intra-African trade
The African Development Bank approved a $200 million revolving trade finance line to the Trade and Development Bank. Expected to catalyse over $1 billion in transactions, it targets SMEs and supports imports of critical goods amid high energy and fertiliser prices linked to Middle East disruptions
