The UK has not yet left the EU and the outlook for its future relationship with the bloc is uncertain.

In his latest Economic outlook, Neil Williams, Senior Economic Adviser to Hermes Investment Management, argues that Japan-style deflation is becoming an increasing possibility elsewhere.

Is the trade war disruptive, or is it merely accelerating trends already underway?

Sterling has had a rough ride over the last few weeks, hitting a 33-month low – against a trade-weighted basket of currencies – on Tuesday 30th July. Silvia Dall’Angelo, Senior Economist at Hermes Investment Management, looks at the downward pressure on the pound that has been driven by increasing odds of a no-deal Brexit following the installation of the new UK government led by PM Boris Johnson.

Monetary policy – which did the heavy lifting in the aftermath of the global financial crisis – has reached its limits.