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
Middle East & RBA in focus this week
15 March, 2026
• Market nerves. Higher oil prices & Middle East developments dampened risk sentiment on Friday. USD firmer. NZD & AUD underperform.• Macro events. Central banks in the spotlight this week. High...
Dollar powers higher as conflict stretches on
13 March, 2026
The Federal Reserve’s preferred inflation measure landed in line with expectations in January, but left markets mostly unmoved, given that it predated the Iran conflict and was stale on arrival....
Oil prices still dictating terms
12 March, 2026
• Oil jolt. Another jump in oil prices weighed on sentiment. Equities lower, USD firmer. NZD weaker. AUD underperforms after its strong run.• Twists & turns. Markets pricing a supply risk premium in...
Stale data shows US inflation pressures easing to a five-year low
11 March, 2026
Inflation slowed in the United States last month—before the war in Iran sent oil prices spiralling higher and triggered a sharp reappraisal of the Federal Reserve’s expected policy path. According to data...
Oil volatility & AUD outperforms
10 March, 2026
• Oil swings. Pull-back in oil prices has supported risk sentiment. Will it last? Situation in Middle East remains fluid. More volatility likely over period ahead.• RBA Hawks. AUD/USD at top of its range....
Markets poised to unwind war premium as Trump signals Iran endgame
09 March, 2026
Crude oil benchmarks are under intense selling pressure and currency markets are reversing direction after US president Donald Trump told CBS News “I think the war is very complete, pretty much”.
Trump...
Soaring crude prices wreak havoc in financial markets
09 March, 2026
Foreign exchange markets are in upheaval after Iran war fears drove global crude prices nearly 30 percent higher over the weekend—but conditions could stabilise in coming hours if G7 countries tap their...
Oil price worries intensify
08 March, 2026
• Macro worries. Growth/inflation concerns due to the jump in oil were compounded by a weak US jobs report. AUD remains on the backfoot.• Oil risks. Production cuts across Middle East creating supply risks....
Non-farm payrolls disappoint, combining with higher oil to unleash stagflation fears
06 March, 2026
The US job creation engine decelerated sharply last month, partially reversing market bets on a more hawkish policy stance from the Federal Reserve this year. According to data just released by the Bureau...
Market swings continue
05 March, 2026
• Oil jump. Another move higher in oil prices because of Middle East concerns dampened risk sentiment. Equities fell. USD firmer. AUD underperforms.• Macro worries. Higher energy prices pose an upside...