Oh no! The oil price could fall

Oil has been a rare global stimulus for three years. As it teeters on the edge of a nasty drop, modern deflation could land a huge blow to the global recovery.

As global leaders gather in Davos this week for the World Economic Forum they’ll find that the key topic on most economic policymakers’ minds is not specifically on the agenda: deflation.

Global inflation is 1.5 per cent and last week it emerged that eurozone inflation has fallen to 0.7 per cent.

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