Andrew Bailey argues that modern central bank independence is well-defined for monetary policy but incomplete, and highlights the challenges for a central bank’s financial stability mandate

The long-awaited change of government gives Hungary an opportunity to tackle tough economic and social challenges while re-aligning with Europe. Zsolt Darvas considers what tight fiscal constraints will mean for Hungary’s priorities

Donald Trump’s 2025 tariffs were disruptive in the deepest sense. Richard Baldwin argues that while the old trading order was destroyed, a growing share of global commerce is drawn into existing regional trade arrangements, producing an emergent global trading order

Can trade policy drive global climate action? Maximilian Fuchs and Camille Reverdy write that early experience of the EU carbon border adjustment mechanism shows trade can spread carbon pricing, but lower-income partners need support

The G20 is approaching a turning point. Dennis Snower argues that the UK Presidency in 2027 has an opportunity to position the G20 as a platform for managing the complexities of the twenty-first century

Nature is the economy’s life support system, and it is under strain. Frank Elderson calls for stronger global cooperation to tackle nature related financial risks