The world is Witnessing A Wonderful Change
Wishing A Day Full of Actions
-Arbind
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Macro-Economic News 19 Jan 2021
The world warned the world on the brink of a
"catastrophic moral failure" because of unequal Covid vaccine
policies, as poor-countries fall behind richer. Biden’s selection of a team of
financial regulators, with progressive favorites, indicates a new era of
tougher oversight and stricter rules.
African
central bankers, scheduled to meet over the next weeks, appears to have used up
most of their interest-rate ammunition to lift their economies out of
recessions that still affect much of the continent. Monetary policy committees
have limited scope to provide stimulus after aggressive easing when lockdowns
first shuttered output in 2020, with inflation quickening in Nigeria and Angola
and restrictions that would dull the impact of rate cuts continuing in South
Africa and Kenya.
While
Joe Biden inherits a litany of unresolved issues, Janet Yellen steps into a new
role of a salesperson for economic policy calling for more aid to avoid a long
and painful recession. In the meantime, Malaysia unveiled a 15 billion ringgit
($3.7 billion) package to help the economy weather the impact of a fresh surge
of infections.
India
is likely to target a fiscal deficit at 4% of GDP by FY26 following the
prediction of a continued uptrend of Indian economic activities after its robust
rebound.
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