Economic Snapshot for G7 Countries
March 4, 2020
Global economic growth is seen dipping slightly in 2020
bet360备用网址Global economic growth is seen dipping slightly this year compared to last as the coronavirus weighs on momentum in H1, particularly in China. However, the “phase-one” U.S .-China trade deal should reduce global trade uncertainty to an extent. A possible worsening of the viral outbreak, a resurgence of U.S.-China tensions and social unrest in some countries pose downside risks.
Global Monetary & Financial Sector News
bet360备用网址Global price pressures remain subdued due to moderate growth and weak oil prices, which have fallen sharply since the start of the year. The same factors will likely keep global inflation broadly unchanged through the rest of 2020, although certain Latin American and African countries will experience high inflation, and African swine fever should continue to fan price pressures in Asia.
bet360备用网址The PBOC loosened its stance in recent weeks to fend off the impact of coronavirus, with several other Asian central banks following suit. G7 central banks have made no policy changes recently. Panelists see some further loosening in 2020, as central banks take advantage of generally mild inflation to support activity in the face of virus-induced uncertainty.
bet360备用网址Over the last month, the U.S. dollar has appreciated against other major currencies such as the CAD, CNY, EUR and GBP, but weakened against the JPY. Coronavirus fears boosting safe-haven demand, coupled with strong economic momentum, have likely underpinned the USD’s strength in recent weeks.
bet360备用网址5 years of Major Economies economic forecasts for more than 30 economic indicators.
Major Economies Economic News
March 16, 2020
Consumer prices dipped a revised 0.1% month-on-month in February (previously reported: 0.0% month-on-month), contrasting January’s 0.1% uptick, according to revised data released by the National Statistical Institute (ISTAT) on 16 March.
March 13, 2020
Harmonized consumer prices rose 0.6% month-on-month in Germany in February, swinging from the 0.8% drop in January.
March 13, 2020
bet360备用网址In February, consumer prices were stable from the previous month after falling 0.4% in January, according to a preliminary release by the Statistical Institute (INSEE).
Canada: Bank of Canada cuts rates by 50 basis points for second time in March amid coronavirus anxiety
March 13, 2020
On 13 March, the Bank of Canada (BoC) held an unscheduled meeting and cut its target for the overnight rate from 1.25% to 0.75%, following its previous 50 basis-point cut on 4 March.
March 12, 2020
bet360备用网址Industrial output jumped a seasonally-adjusted 2.3% over the previous month in January, contrasting December’s 1.8% slump.
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