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Chris Giles

Economics Commentator

Chris Giles is the FT’s economics commentator. He writes a fortnightly column and the weekly newsletter, Chris Giles on Central Banks (sign up here). Previously, he was economics editor and served as a leader writer.

He is an Honorary Professor of Practice at the UCL Policy Lab. Before joining the FT, he worked for the BBC, Ofcom and the Institute for Fiscal Studies. Chris loves numbers.

Email Chris Giles @ChrisGiles_  on X.com (link opens in a new browser window)
  • 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.
  • Thursday, 30 April, 2026
    Energy crisis
    The energy crisis is no excuse for bad subsidies

    We know what worked and what failed the last time around

    Chris Giles
    A smart meter on a kitchen hob displays £4,175 as the year-to-date home energy cost, with 4,831 kWh used. A blue gas flame is visible in the foreground.
  • Tuesday, 28 April, 2026
    Chris Giles on 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.
  • Friday, 24 April, 2026
    Monetary Policy Radar
    Bank of Japan to postpone April rate rise amid Iran uncertainty

    Read the BoJ’s April forecast from the FT’s Monetary Policy Radar team

    Montage image of Kazuo Ueda, yen banknotes, and a line chart
  • Thursday, 23 April, 2026
    Monetary Policy Radar
    US rate cuts will be postponed the longer the energy shock lasts

    Read the April forecast from the FT’s Monetary Policy Radar team

    Montage image of Jerome Powell, US dollar banknotes, and a line chart
  • Wednesday, 22 April, 2026
    European Central Bank
    European Central Bank will respond forcefully if energy prices rise a lot

    Read the April forecast from the FT’s Monetary Policy Radar team

    Montage image of Christine Lagarde, Euro banknotes, and a line chart
  • Tuesday, 21 April, 2026
    Federal Reserve
    Warsh signals evolution, not revolution at the Fed

    The nominee for chair of the central bank wants regime change, but at a slow and deliberative pace

    Kevin Warsh speaks into a microphone during his Senate Banking Committee confirmation hearing.
  • 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, 21 April, 2026
    Monetary Policy Radar
    Bank of England will only raise rates amid a severe supply shortage

    Read the April forecast from the FT’s Monetary Policy Radar team

    Montage image of Andrew Bailey, UK banknotes and a line chart
  • Thursday, 16 April, 2026
    UK defence spending
    Deterrence costs and we will all have to pay

    There is a need to stop wishful thinking on defence expenditure

    Chris Giles
    Five UK Royal Army Medical Services personnel in camouflage uniforms and helmets kneel with weapons during a training scenario outdoors.
  • Tuesday, 14 April, 2026
    Chris Giles on Central Banks
    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
  • Thursday, 9 April, 2026
    The Economics Show with Soumaya Keynes podcast31 min listen
    How long will the Iran energy shock last? With Chris Giles

    The effects of the war are still feeding through the global economy

  • 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.
  • Thursday, 2 April, 2026
    UK politics
    The UK’s unpleasant energy exposure

    The vulnerability stems from history and geography rather than failed policies

    Chris Giles
    Keir Starmer speaks at a podium during a press conference, with British flags visible on either side.
  • Wednesday, 1 April, 2026
    Federal Reserve
    The Fed is vacillating as the war continues

    This is starting to look like a central bank appeasing its political masters

    Chris Giles
    Jerome Powell walks in front of blue curtains and U.S. and Federal Reserve flags before a news conference.
  • Wednesday, 1 April, 2026
    FT News Briefing podcast12 min listen
    How a small US business navigated Trump’s tariffs

    The owners of the Maryland clothing company Princess Awesome explain how the levies nearly devastated their business

  • 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
  • Friday, 27 March, 2026
    Monetary Policy Radar
    Bank of Japan normalisation set to continue amid Iran inflation threat

    Read the BoJ’s March forecast from the FT’s Monetary Policy Radar team

    Montage image of the Bank of Japan building and a line chart
  • Thursday, 26 March, 2026
    Monetary Policy Radar
    European Central Bank hopes to look through energy price shock

    Read the March forecast from the FT’s Monetary Policy Radar team

    Montage image of the European Central Bank sign and building with a line a chart
  • Wednesday, 25 March, 2026
    Monetary Policy Radar
    Bank of England not as hawkish as market thinks

    Read the March forecast from the FT’s Monetary Policy Radar team

    Montage image of the Bank of England and a chart
  • Tuesday, 24 March, 2026
    Monetary Policy Radar
    Copy of Federal Reserve will stay on hold if energy shock is protracted

    Read the March forecast from the FT’s Monetary Policy Radar team

    Montage image of the Federal Reserve eagle statue and a chart
  • Wednesday, 18 March, 2026
    UK energy
    Silver linings to the heavy cloud of higher energy prices

    Natural gas consumption has fallen and resilience has improved across Europe and in the UK

    Chris Giles
    Rachel Reeves, wearing a green hard hat and blue coveralls, stands with workers at the St Fergus Gas Plant surrounded by industrial piping.
  • Tuesday, 17 March, 2026
    Chris Giles on 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.
  • Monday, 16 March, 2026
    Global inflation
    Central banks set to pivot in a hawkish direction

    Reaction to the supply shock will set the tone for the months ahead

  • Tuesday, 10 March, 2026
    Chris Giles on Central Banks
    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.
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