EU economy continues to be under pressure from blockades. A survey found the eurozone's economic slowdown worsened in January as new restrictions aimed at quelling the spread of the coronavirus heavily hit the service industry - which is a major industry. the force of the block. Coronavirus infections are on the rise again and governments across the EU have issued tough blockade measures to deal with IHS Markit's end of January Total Purchasing Managers' Index (PMI) - data considered a good indicator of the health of the economy - fell to 47.8 from December's 49.1 but higher than the read data fast at 47.5.
- Chris Williamson, chief economist at IHS Markit said: “The eurozone economy endured a tough 2021 start, as the bloc struggled to contain the pandemic and hit industries Therefore, GDP is likely to decline in the first quarter, although according to current trends, this figure will be more modest than the decrease seen in the first half of 2020. The bloc's economy fell 0.7% in the previous quarter, official data showed Tuesday, while a January poll by Reuter showed it took the EU economy two years to get back to its previous level. pandemic.
BoJ warns that it could lower interest rates deeper into the negative zone - Deputy Governor Masazumi Wakatabe said that the central bank of Japan is ready to cut interest rates further and continues to seek ways to cope with economic shocks, signaling its determination to maintain or strengthen support for the economy. affected by the pandemic.
Wakatabe said BOJ's policy review in March will not lead to the withdrawal of monetary stimulus measures but will focus on making its tools "sustainable, effective. and more timely ”. He added, it is important to ensure the central bank has enough "policy ammo" to withstand any future shocks, typically this pandemic. “We also have to maintain our commitment to 2% inflation. Based on the commitment, we will be willing to lower the nominal interest rate when needed, ”he said-Some analysts speculate the BOJ could expand its loan programs to transfer more money to financial institutions and companies promoting investments in green and digital technologies.
Facts and economic data to watch out for today- The Bank of England publishes interest rate resolutions, policy statements, meeting minutes, and monetary policy reports. Then the Governor of the British Central Bank Bailey held a press conference. The market expects the Bank of England to keep its monetary policy and heed future guidelines.- Announced the number of initial claims for unemployment benefits from the United States to January 30, the market is expected to 830,000 people, the previous value is 847,000. On the next day, the FOMC 2021 Ticketing Committee and San Francisco Fed President Daley will participate in an online event hosted by the Federal Reserve and Federal Reserve Bank of Atlanta, Boston, Cleveland and Organized by Philadelphia.
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