How Managing Inflation Expectations Can Help Economies Achieve A Softer Landing – Analysis eurasiareview.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from eurasiareview.com Daily Mail and Mail on Sunday newspapers.
'Soft Landing' Prospects Improve With Better Central-Bank Messaging, IMF Says 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.
Strong policy actions have dampened the impact of Covid-19 on workers and businesses. Amid a rapid recovery, dents to potential output are set to remain limited and transitory. But many uncertainties persist and some economic scarring from the pandemic may only emerge over the coming years. This column summarises the insights from a recent conference on the implications of
Recessions wreak havoc and the damage is often long-lived. Businesses shut down, investment spending is cut, and people out of work can lose skills and motivation as the months stretch on. But the recession brought on by the COVID-19 pandemic is no ordinary recession. Compared to previous global crises, the contraction was sudden and deep - using quarterly data, global output declined about three times as much as in the global financial crisis, in half the time. We expect world output in the medium-term to be about 3 percent lower in 2024 than pre-pandemic projections. Systemic financial stress - associated with long-lasting economic damage - has been largely avoided so far, owing to the unprecedented policy actions taken. However, the path to recovery remains challenging, especially for countries with limited fiscal space, and is made harder by the differential impact of the pandemic.