Traders work on the floor of the New York Stock Exchange. Photograph: EPA/JUSTIN LANE

US interest rate hikes are coming but there’s no rush to do so, Federal Reserve chief Janet Yellen announced last week, an unexpectedly dovish message(...)

European Commissioner for Economic Affairs Pierre Moscovici: doing his best to keep out of the limelight. Photograph: Eric Piermont/AFP/Getty Images

There was no shortage of conversation-starters in Davos yesterday – “quantitative easing” was the magic phrase on everyone’s lips as they awaited news(...)

The Taoiseach, Enda Kenny, has said he would “like to think” the European Central Bank could be independent of pressure from euro zone member states w(...)

Italy’s Chamber of Deputies  at Palazzo Montecitorio  in Rome.  Today’s northern European countries are running up record current-account surpluses, just as some southern European countries are experiencing Weimar-level unemployment. For Italy, Europe’s fourth-largest economy, the slump is deeper than 80 years ago. Photograph: Franco Origlia/Getty Images

Charles P Kindleberger, the great economic historian, once noted that the Great Depression was so deep and so long because of “British inabilit(...)