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Chris Giles on Central Banks

‘Chris Giles on Central Banks’ is the latest weekly newsletter (sign up here) from the Financial Times. Written by economics commentator and former economics editor Chris Giles, it is an essential guide to money, interest rates, inflation and what central banks are thinking.

The newsletter dissects the current trends, discussing the latest thinking on economics relevant to central banking. It provides in depth commentary on the big themes, generating engagement with readers, as well as linking to other central banking stories on FT.com and elsewhere.

  • Tuesday, 5 May, 2026
    Central banks
    Central banks prepare for a long war

    Officials are softening people up for difficult decisions ahead. Also in this newsletter, how oil prices work

    Chris Giles
    Premium content
    A person points at a digital map showing dense vessel traffic in the Strait of Hormuz on a ship-tracking website.
  • Tuesday, 28 April, 2026
    Central banks
    An optimistic outlook for Warsh at the Fed

    Much of the nominee’s testimony was just a different way of expressing current US monetary policy

    Premium content
    Kevin Warsh speaking, with the Federal Reserve System seal in the background.
  • Tuesday, 21 April, 2026
    Kevin M. Warsh
    What we need to know from Warsh

    After a period of silence, Donald Trump’s nominee for Fed chair gives evidence

    Chris Giles
    Premium content
    Kevin Warsh speaks at a podium during the IMF and World Bank Spring meetings.
  • Tuesday, 14 April, 2026
    Global Economy
    Iran war creates an emerging economy emergency

    Poorer countries are finding themselves at sharp end of fuel shortages

    Premium content
    A long line of green and yellow autorickshaws in Bangalore, with motorcycles passing by
  • Tuesday, 7 April, 2026
    Global Economy
    The Iran war shock is about half the size of Covid-19

    An assessment almost six weeks into the latest global economic crisis

    Chris Giles
    Premium content
    An illustration of a map with the Strait of Hormuz labeled in Arabic, viewed through a magnifying glass.
  • Tuesday, 31 March, 2026
    European Central Bank
    The ECB’s three-pronged monetary strategy

    Unless the war ends quickly, a rise in Eurozone interest rates looks inevitable

    Chris Giles
    Premium content
    Christine Lagarde speaks at a podium
  • Tuesday, 24 March, 2026
    Central banks
    Why the Fed and BoE have diverged on the war

    The BoE’s hawkish tone clashed with the Fed’s non-committal approach at last week’s rate-setting meetings

    Premium content
    Jay Powell and Andrew Bailey walking outdoors
  • Tuesday, 17 March, 2026
    Central banks
    It’s time for hawkish central bank talk

    Monetary policymakers are players in the energy shock, not analysts or bystanders

    Premium content
    Flames and thick black smoke rise from a burning fuel tank near Dubai international airport.
  • Tuesday, 10 March, 2026
    Energy crisis
    The impact of the new energy crisis

    As yet another supply shock hits, central banks will hope its duration is short

    Premium content
    Fuel prices for three grades are displayed on a gas pump: $3.099 for 87 octane, $3.799 for 89 octane, and $4.099 for 93 octane.
  • Tuesday, 3 March, 2026
    Trump tariffs
    Who is paying for Trump’s tariffs?

    The answer depends on how you ask the question; plus markets do not think the Bank of Japan is more dovish

    Premium content
    Kevin Hassett
  • Tuesday, 24 February, 2026
    Federal Reserve
    Will AI-driven productivity growth allow the Fed to lower rates?

    Theory and data allow us to spin different narratives

    Premium content
    Kevin Warsh speaks at the Sohn Investment Conference, wearing a suit and tie, with a microphone clipped to his lapel.
  • Tuesday, 17 February, 2026
    US economy
    The US economy is turning

    The question is whether it is turning European or Australian. Also in this newsletter, all change in Eurozone labour markets

    Premium content
    A recruiter arranges blue brochures reading “This is the JOB you want,” with QR codes visible, at a job fair table.
  • Tuesday, 10 February, 2026
    Central banks
    The fight between staff and hawks inside the BoE

    The central bank has lifted the lid on internal arguments. Also in this newsletter, is Kevin Warsh a hawk or weathervane?

    Premium content
    Andrew Bailey looks on during a Bank of England press conference, seated at a table with colleagues and microphones.
  • Tuesday, 3 February, 2026
    Central banks
    Scenarios for a Warsh Fed

    Plausible predictions have vastly different outcomes. Also in this newsletter, US trade balances move back to normality

    Premium content
    Kevin Warsh speaks at the 2025 spring meetings of the IMF
  • Tuesday, 27 January, 2026
    Federal Reserve
    Trump, the Fed and Newton’s third law

    The past week showed every action has a reaction, many of which will annoy the US president

    Premium content
    Donald Trump looks on as Jerome Powell walks past him, both with serious expressions. An American flag is blurred in the background.
  • Tuesday, 20 January, 2026
    Bulgaria
    Why Bulgaria joined the Eurozone

    Though the Bulgarian lev was already pegged to the euro, the country had much to gain by joining the currency union

    Premium content
    A large yellow Euro symbol and stars are projected onto the blue glass facade of the European Central Bank headquarters.
  • Tuesday, 13 January, 2026
    Global Economy
    The cost of taking orders from Trump

    The administration’s war on the Federal Reserve illustrates the threat of fiscal dominance

    Premium content
    Jerome Powell and Donald Trump, both wearing suits and white hard hats, examine a document with highlighted sections.
  • Tuesday, 6 January, 2026
    Central banks
    How to be a central banker in 2026

    Plan to face the obstacles impeding the smooth path of economic policy

    Premium content
    Jerome Powell, Kazuo Ueda, Christine Lagarde and Andrew Bailey stand outdoors together with mountains in the background at the Jackson Hole symposium
  • Tuesday, 30 December, 2025
    Global Economy
    A year of fragile resilience in charts

    Stock market performance, strong activity and normalising labour markets show a volatile, but ultimately benign, 2025

    Premium content
    Logos of the Federal Reserve, European Central Bank, Reserve Bank of Australia, and Bank of Canada arranged on a blue background with currency details.
  • Tuesday, 16 December, 2025
    Central banks
    How central banks should navigate an uncertain 2026

    Communicating better about what they don’t know would be a start

    Premium content
    The Bank of England and Royal Exchange.
  • Tuesday, 9 December, 2025
    Turkish economy
    Central bankers, let Turkey be a warning

    Country is now running ultraorthodox policy but still struggling to bring persistent inflation down

    Premium content
    The gold logo and lettering of Turkey's Central Bank are displayed on a dark stone wall at its headquarters.
  • Tuesday, 2 December, 2025
    UK economy
    Why UK borrowing costs are so high

    Despite fiscal tightening announced at the Budget, market trust in British governments remains low

    Premium content
    Rachel Reeves stands outside 11 Downing Street holding the red Budget box, accompanied by colleagues
  • Tuesday, 25 November, 2025
    Federal Reserve
    Dissent is rising at the Fed

    There is tension between the central bank’s inflation and maximum employment mandates

    Premium content
    The official seal of the Board of Governors of the Federal Reserve
  • Tuesday, 18 November, 2025
    US economy
    The unhealthy state of US price statistics

    Obamacare insurance premium increases are about to challenge public trust in inflation measures

    Premium content
    A man walks past an insurance agency storefront with a large "Obamacare" sign displayed above the entrance.
  • Tuesday, 11 November, 2025
    Central banks
    Four lessons from four central bank meetings

    The Fed gets lost in the fog while the Bank of England almost finds a strong voice

    Premium content
    Montage of international bank logos
Previous page1Next page

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