Monetary authorities in Brazil and India -- both enduring acute outbreaks of the disease -- will probably cut benchmark borrowing costs. Others from the U.K. to Australia are likely to pledge heightened vigilance and continued support, similar to that offered by the U.S. Federal Reserve when it left rates near zero on Wednesday.
What policy makers will have to work with at the seven central banks scheduled to meet in coming days -- including the Czechs, Thailand and Georgia too -- is more evidence of the economic damage caused by disruptions to combat the disease. A day before the jobs report, the weekly figures on filings for unemployment benefits will indicate whether the labor market’s slowdown further deepened in late July.
On the data front, high-frequency indicators for the U.K. and the euro area are expected to confirm the rebound taking place in the third quarter. Figures from Sweden, on the other hand, will give a fresh glimpse into whether the country’s relatively lax approach to the Covid-19 pandemic has paid off in economic terms. Bloomberg Economics expects an 8 percent slump in output.
Source: Loan Digest (loandigest.net)
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