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February 26, 2020

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Monetary / Fiscal Policy / Policy Makers

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Toyota says Japan plants may be affected by virus-related supply issues

Reuters
by Reuters06
A man walks past a Toyota logo at the Tokyo Motor Show, in Tokyo, Japan October 24, 2019. REUTERS/Edgar Su TOKYO (Reuters) – Toyota Motor Corp (7203.T) on Wednesday said that operations at its plants in Japan may be affected by supply chain issues linked to the new coronavirus outbreak......
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China’s main manufacturing hubs reboot after virus shutdown

Reuters
by Reuters03
BEIJING/SHANGHAI (Reuters) – As many parts of China ease coronavirus travel curbs, main manufacturing hubs in the east and south are seeing hundreds of thousands of migrant workers returning to work and more traffic on the roads during rush hours. FILE PHOTO: Traders buy and sell chips and components on......
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Markets bet Fed is pushed to cut rates in coronavirus response

Reuters
by Reuters03
(Reuters) – Financial markets on Monday ratcheted up bets the U.S. Federal Reserve will be pressed to cut interest rates to cushion a feared hit to economic growth from the spread of the coronavirus, although one official cautioned against expecting the central bank to over-react to short-term market moves. FILE......
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Rate futures surge as coronavirus seen pushing Fed to ease

Reuters
by Reuters03
FILE PHOTO: The Federal Reserve seal is seen during Chairman Jerome Powell news conference following the two-day meeting of the Federal Open Market Committee (FOMC) meeting on interest rate policy in Washington, U.S., January 29, 2020. REUTERS/Yuri Gripas/File Photo (Reuters) – U.S. interest rates futures surged to their highest levels......
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G20 finance heads eye impact of coronavirus outbreak on growth, see modest pickup

Reuters
by Reuters07
RIYADH (Reuters) – Finance chiefs of the world’s top 20 economies vowed to monitor the impact of the coronavirus outbreak on global growth and act if needed, as they said loose monetary policy and easing trade tensions would prompt a pick-up in 2020 and 2021. The Group of 20 (G20)......
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G20 finance heads see modest growth pickup, to monitor coronavirus

Reuters
by Reuters07
RIYADH (Reuters) – Finance leaders of the world’s top 20 economies expect economic growth to pick up modestly this year and next thanks to loose monetary policy and an easing of trade tensions, and vowed to monitor the effects of the coronavirus outbreak. U.S. Treasury Secretary Steven Mnuchin arrives for......
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Shifting sands of inflation unsettle top bankers at Riyadh G20 meeting

Reuters
by Reuters06
RIYADH/WASHINGTON (Reuters) – Central bankers from the United States, Japan and the euro zone meeting in the desert kingdom of Saudi Arabia this weekend had their own shifting sands to cross – those of elusive inflation. FILE PHOTO: European Central Bank President Christine Lagarde arrives for a welcome dinner at......
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G20 sees need to coordinate coronavirus response as IMF trims growth forecasts

Reuters
by Reuters013
RIYADH (Reuters) – The world’s top economies called on Saturday for a coordinated response to the coronavirus outbreak, which the IMF predicted would lower China’s growth this year to 5.6% and shave 0.1 percentage points from global growth. FILE PHOTO: IMF Managing Director Kristalina Georgieva speaks during a news conference......
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Japan urges G20 members with fiscal scope to boost spending

Reuters
by Reuters09
RIYADH (Reuters) – Japan called on G20 countries with fiscal space to ramp up spending to help the global economy weather risks, including the fallout from the coronavirus outbreak, Finance Minister Taro Aso said on Saturday. FILE PHOTO: Japanese Finance Minister Taro Aso takes questions from reporters at the annual......
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The ECB wants to talk to you about inflation. But will it listen?

Reuters
by Reuters06
FRANKFURT/RIYADH (Reuters) – For many people, the language of European Central Bank policymakers is so impenetrable, it could be beamed from another planet. FILE PHOTO: European Central Bank President Christine Lagarde addresses the European Parliament during a debate on the 2018 annual report of the ECB in Strasbourg, France, February......
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Markets underprice coronavirus risk: UBS chairman on Bloomberg TV

Reuters
by Reuters07
FILE PHOTO: Axel Weber, UBS Chairman of the Board of Directors, attends a session during the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse VIENNA (Reuters) – Markets are underpricing the risk that the coronavirus outbreak poses to the global economy, and central......
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Reuters - Business

U.S. Treasury’s Mnuchin: Tax certainty needed on global basis

Reuters
by Reuters010
FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before the Senate Finance Committee during a hearing on the President’s FY2021 Budget on Capitol Hill in Washington, U.S., February 12, 2020. REUTERS/Yuri Gripas/File Photo/File Photo RIYADH (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Saturday it was very important to......
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Reuters - Business

In next downturn, Fed may opt for quick, strong action

Reuters
by Reuters02
NEW YORK/SAN FRANCISCO (Reuters) – In the next economic downturn, the Federal Reserve and other central banks may need to roll out their big guns sooner and use them more aggressively, or risk getting mired in growth-sapping deflation or worse. FILE PHOTO: Federal Reserve Board Governor Lael Brainard speaks at......
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Global central bankers scour shopping malls, manufacturers for coronavirus playbook

Reuters
by Reuters09
WASHINGTON/RIYADH/FRANKFURT – (Reuters) – In the days after a new virus was identified in China on Dec. 31, global central bankers fell back on past experience for a comforting early analysis. FILE PHOTO: A man wearing a face mask walks past a shop of a French luxury cosmetic brand Lancome......
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Trump economist says ‘uncertainty’ from trade disputes hit business investment

Reuters
by Reuters010
WASHINGTON (Reuters) – A slowdown in U.S. growth last year was at least partly the fault of President Donald Trump’s global trade battles and the resulting hit to business investment, the administration’s top economist said on Thursday in an outlook for the coming years. FILE PHOTO: U.S. President Donald Trump......
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Lofty stocks, hefty debt sow seeds of worry for some at Fed

Reuters
by Reuters02
(Reuters) – Rock-bottom corporate bond yields, high levels of business debt and one of the fastest expansions of stock market valuations on record are worrying some Federal Reserve officials who fret such financial imbalances could aggravate any negative shocks to the U.S. economy. While agreeing that overall financial vulnerabilities were......
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Fed policymakers cautiously optimistic on U.S. economy despite new risks, minutes show

Reuters
by Reuters05
WASHINGTON (Reuters) – Federal Reserve policymakers were cautiously optimistic about their ability to hold interest rates steady this year, minutes of the central bank’s last policy meeting showed, even as they acknowledged new risks caused by the coronavirus outbreak. FILE PHOTO: The Federal Reserve building is pictured in Washington, DC,......
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Fed staff float plan to end term-repo after April, minutes show

Reuters
by Reuters05
(Reuters) – Senior Federal Reserve staff proposed ending longer-term loans to banks after April as part of a broader blueprint laying out how the central bank could scale back the support provided to money markets, the minutes from the January policy meeting showed. The proposal, which received a warm reception......
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Reuters - Business

China stimulus hints, slowing spread of virus lift stocks

Reuters
by Reuters05
LONDON (Reuters) – A decline in the number of new coronavirus cases in China and mounting expectations for more policy stimulus boosted global stock markets on Wednesday, helping ease some of the alarm caused by an Apple revenue warning. FILE PHOTO: The German share price index DAX graph is pictured......
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Reuters - Business

China races to contain job losses as coronavirus batters economy

Reuters
by Reuters05
BEIJING (Reuters) – When cameraman Mark Xia returned to his job this month after holidays, the Shanghai video production house where he worked told him to take three months of leave with no pay, as a coronavirus epidemic takes a toll of China’s businesses. FILE PHOTO: A guard measures the......
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