Macro
UK Economy Briefing: July 2026
With oil prices back at pre-conflict levels, our arithmetic shows CPI inflation peaking at a little over 3% in September and falling below the 2% target in the second half of 2027.
Global Economic OutlookQ3 / 2026Start here
The synchronised mistake
The world's central banks turned hawkish in unison this spring, just as the shock that frightened them was already reversing. My mid-year report card, honestly marked, and where I think the second half goes.
Macro · 15 min read
The Show · S2 Ep 1
Three Central Banks Made the Same Mistake in One Week
Oil hit $144 a barrel in April, the highest price ever paid for physical crude, and underlying inflation barely moved. This week, Neil Woodford explains why the oil price doesn't work the way most people think, and why three central banks tightened into a shock that was already reversing.
MacroQ1 / 2026
Global Economic Outlook 2026
Neil Woodford’s 2026 economic outlook: insights on global growth, market trends, and challenges across the US, China, Europe, and the UK.