Global
Gross Domestic Product
Real gross domestic product, annual % change, updates quarterly
Illustrates year-on-year growth rates in real gross domestic product for five major global economies: China, the United States, the euro area, Japan, and the United Kingdom. Each bar shows annual percent changes in inflation-adjusted output, enabling direct comparison of performance across these large, diversified economies.
Global
Economic Policy Uncertainty
Economic Policy Uncertainty indices, 4-month movin averages, normalised to a mean of 100 prior to 2011
Quantifies the frequency of news coverage and other indicators related to policy-related economic uncertainty, offering a standardised measure of how markets and businesses perceive the unpredictability of fiscal, monetary, and regulatory environments. Each national index reflects the relative frequency of own-country newspaper articles that contain a trio of terms pertaining to the economy, uncertainty and policy-related matters. Over the past decade, economic policy uncertainty has exhibited a secular upward trend, reflecting heightened geopolitical tensions, frequent policy shifts, trade disputes, and episodic shocks such as pandemics and financial stress events.
Global
Unemployment Rate
Harmonized unemployment rate, all persons, %, SA, updates monthly
Unemployment rates measure the percentage of the labor force currently not working but actively seeking employment. Markets monitor unemployment rates to assess the cyclical health of economies and the likelihood that wage demands may increase inflationary pressures.
Global
Consumer Prices
All items, core, annual change, %, SA, updates monthly
Consumer Price indices measure the change over time in average prices paid by consumers for a market basket of consumer goods and services. As the most widely used measure of inflation, changes in these indices are closely followed by policymakers, financial markets, businesses, and consumers. Statistics agencies typically report both an ‘All Items’ number that includes all categories in the calculation basket, and a "Core" number that strips out highly volatile food and energy prices. Data shown are "Core" indices distributed by the respective national statistics agencies.
Global
Current Account
Current account balance, % share of global gross domestic product, updates annually
Current accounts measure each individual country’s transactions with the rest of the world. They measure the difference between the inflows of funds to a country from goods and services exported, income on holdings of foreign assets, remittances and grants received versus the outflow of funds from the same activities. A positive current account balance indicates that a country is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower.
*Estimates begin after 2024
Global
Policy Rates
Central bank target rates, %, updates weekly
Central bank policy rates are the rates used by a central bank to implement or signal its monetary policy stance. Rates are typically set by policy making committees at regularly scheduled meetings throughout the year. In some countries policy rates are represented by discount rates and in others by repurchase agreement rates. Please note: A number of central banks implement their monetary policy based on more than one interest rate. For central banks that communicate a target band, the middle of the band is shown. Rates shown may lag decisions due to monthly recalculation periods.
Global
Monetary Policy Cycle
Number of central banks tightening/loosening policy, updates weekly
Tracks the number of central banks raising or lowering policy interest rates each month, split between developed economies and emerging-market economies. By counting rate decisions rather than focusing on any single country, it provides a clean read on the breadth and momentum of the global tightening or easing cycle. Clusters of hikes signal a synchronised push to restrain inflation and cool demand, while waves of cuts indicate a broad pivot toward supporting growth and stabilising financial conditions. Cyclical global downturns and upturns often follow shifts in the policy cycle at a lag.
Developed Markets: Australia, Canada, Euro Area, Japan, New Zealand, Norway, Sweden, Switzerland, United Kingdom, United States, Emerging Markets: Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Indonesia, Israel, Korea, Malaysia, Mexico, Philippines, Poland, Russia, South Africa, Thailand, Turkey
Global
Money Supply
M2 money supply, billions USD, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Global
Money Supply Growth
M2 money supply, annual change, billions USD, updates monthly
M2 Money Supply is a measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
Global
Central Bank Assets
Central bank assets, billions USD, updates monthly
Central Bank Assets consist of government and corporate bonds, credit granted to financial institutions, foreign reserves, and other securities. Changes in central bank balance sheets help determine liquidity in the banking system and assist in the implementation of monetary policy. When policymakers buy government bonds and corporate debt instruments, they are seeking to lower yields and loosen financial conditions. Conversely, when assets are sold, they are seeking to increase yields and tighten financial conditions.
Global
General Debt Ratios
Credit to general government, non-financial corporate, and household sectors, % of gross domestic product at market value (Chinese government at nominal value)
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
Global
Net International Investment Position
Net international investment position, billions USD, adjusted for breaks, updates quarterly
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities..
Latest Analysis
Dollar resumes its climb against still-uncertain backdrop
24 February, 2026
Good morning. The dollar is advancing against most of its major counterparts and measures of implied currency volatility are tracking near historic norms as foreign exchange traders downplay tariff risks...
Dollar softens as policy uncertainty climbs
23 February, 2026
Equity markets are lower and the dollar is weaker against all of its major counterparts after the US cycled through four different tariff frameworks between Friday morning and Saturday afternoon, underscoring...
Tariff Whiplash
22 February, 2026
• US tariffs. US Supreme Court rules against Pres. Trump. US tariffs being rejigged. USD softer. AUD & NZD a little firmer. AUD still near multi-year peak.• Macro trends. Over medium-term reworking...
Trump raises tariffs, again
21 February, 2026
Only a day after the Supreme Court struck down his tariff regime, and less than 18 hours after signing an executive order implementing new 10 percent tariffs on all US trading partners, Donald Trump has...
Trump implements new 10% global tariffs
20 February, 2026
US president Donald Trump has said he will sign an order imposing 10-percent tariffs on all global imports later today, replacing many of the levies ruled illegal by the Supreme Court this morning. In...
Supreme Court strikes down Trump’s tariff regime, doesn't rule on refunds
20 February, 2026
The Supreme Court of the United States this morning ruled against Donald Trump’s use of the International Emergency Economic Powers Act to impose tariffs, but declined to rule on firm’s eligibility for...
US economy slows, but exhibits signs of resilience, keeping dollar aloft
20 February, 2026
The American economy slowed by more than expected in the final quarter of 2025, with weaker consumer spending, trade effects, and the government shutdown combining to sap momentum. Data released by the...
Hawkish Fed minutes keep dollar well-supported
19 February, 2026
Good morning. The dollar is outperforming all of its major counterparts as the aftermath of yesterday’s more hawkish-than-expected Federal Reserve minutes puts upward pressure on yields and weakens demand...
USD perking up
18 February, 2026
• Positive trends. A run of better than anticipated US data supported the USD. AUD drifted lower. NZD underperforms after yesterday’s RBNZ meeting.• Macro news. RBNZ points to rate hikes later this...
Markets show tentative signs of recovery
18 February, 2026
Investors are bargain-hunting across the financial markets this morning, scooping up discounted assets after a multi-week selloff. Futures on North American equity markets are pointing to gains after the...