Lagarde says ECB has learned from history, won t tighten early bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Yuko Takeo and Tamayo Muto, Bloomberg News A doorway divider Noren hangs in front of Kagurazaka Retro Hotel in the Shinjuku district. , Bloomberg
(Bloomberg) From bellboys and receptionists to chefs and concierges, hotel staff in Japan are likely to find they have more time to watch the Olympics than they ever expected.A fourth Covid emergency in Tokyo and a decision to bar spectators from the main athletics events have triggered a wave of hotel room cancellations. This latest setback puts further pressure on a hotel industry that bet big on the summer games serving as a springboard for Japanâs wider economic goal of attracting 40 million overseas visitors a year.
Inflation target: 6% â 9%
Nigeriaâs MPC is expected to hold its key rate for a fifth meeting as it seeks to support the recovery of Africaâs biggest economy.
While price data suggests inflation that is almost double the ceiling of the central bankâs official target may have already peaked, policy makers have made it clear that theyâll only switch to taming consumer prices after seeing solid growth momentum.
âUpside risks to inflation in the near term are limited, and this makes standing pat on policy parameters an easy decision to make at the July meeting,â said Mosope Arubayi, an economist at IC Asset Managers.
MONEYWEB
app instead?
Infections driven by the highly transmissible delta variant threatens to choke off lackluster economic recoveries.
By Prinesha Naidoo, Bloomberg
19 Jul 2021 06:48
Image: Adetona Omokanye/Bloomberg
Central bankers in six sub-Saharan African countries are likely to leave borrowing costs unchanged over coming weeks as a resurgence of coronavirus infections driven by the highly transmissible delta variant threatens to choke off lackluster economic recoveries.
Since monetary policy committees in some of the regionâs key nations last met, temporary restrictions on movement were imposed in western Kenya in a bid to avoid a catastrophic fourth wave of infections. In South Africa, the reintroduction of strict lockdown measures and deadly riots have emerged as key risks to economic growth.
Since monetary policy committees in some of the region’s key nations last met, temporary restrictions on movement were imposed in western Kenya in a bid to avoid a catastrophic fourth wave of infections. In South Africa, the reintroduction of strict lockdown measures and deadly riots have emerged as key risks to economic growth.Higher oil prices may bolster economic growth in Nigeria, the continent’s top crude producer. But the increased cost of imported refined fuel will also stoke consumer-price growth, adding to pressures of rising food costs.
Although policy makers are expected to look through rising prices and only raise interest rates after the virus eases, they’ll be cautious of falling too far behind frontier markets such as Ukraine that have already started tightening, said Ayomide Mejabi, chief economist for sub-Saharan Africa at JPMorgan Chase Bank NA. Relatively lower rates may make country’s financial assets less attractive to offshore investors.