久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Projections point to fast global recovery

By CHEN JIA in Beijing and AI HEPING in New York | CHINA DAILY | Updated: 2021-03-19 09:29
Share
Share - WeChat
A photo shows the sunny day view of CBD area in downtown Beijing, capital of China. [Photo/Sipa]

Optimistic global growth projections may prompt a quicker normalization of monetary policies, with fiscal stimulus measures and the steady pickup in vaccination rates signaling a much-faster economic recovery and opening-up, experts said on Thursday.

Officials from the United States Federal Reserve said they expect economic growth to be much stronger this year, while the unemployment rate will be lower than the projections in December. The Fed's median projection indicates that the US GDP may rise by 6.5 percent this year, compared with 4.2 percent earlier. That would be the fastest growth pace in four decades, said the Fed.

Several international institutions are also revising their GDP projections on China.

Fitch Ratings, a global credit ratings firm, raised China's GDP growth forecast to 8.4 percent for this year, compared with 8 percent earlier, on the back of a strong recovery in exports and improving global demand.

Experts, in general, have a more optimistic outlook on the world's two largest economies as the US Fed has raised projections for both inflation and the labor market, while China's strong recovery continued to trigger a global rebound.

Though the US Fed kept interest rates at near zero on Wednesday, it has sent strong signals that there would be no further increases till 2023. At the same time, it has also reaffirmed its commitment to the quantitative-easing program by buying $120 billion in bonds every month-$80 billion in Treasury securities plus $40 billion in mortgage-backed debt.

"We will be carefully looking ahead," Fed Chairman Jerome Powell said, adding "the path ahead remains uncertain".

With key indicators like economic activity and employment improving steadily, David Chao, a global market strategist for Asia-Pacific (excluding Japan) at Invesco, a US investment firm, expects the favorable macro backdrop and better economic activity to boost US bond yields to around 1.9 percent by the end of the year.

Though the Fed has reaffirmed its dovish stance amid soaring inflation expectations, there are still concerns about a possible monetary policy tightening, despite assurances by the Fed chair to the contrary, said Chao.

The Invesco strategist expects the US dollar to weaken in near-term, given the Fed's pledge on ultralow interest rates. Investors should focus on appreciating emerging markets and Asian currencies, he said.

Following the rise in US bond yields, in response to the $1.9 trillion stimulus plan and amid higher inflation in some economies, bond yields in the Asia-Pacific region have risen significantly as well.

The acceleration of US bond yields, a result of the financial markets' pricing in stronger US economic growth and inflation, spooked global markets in February, because substantially higher market interest rates could put pressure on asset prices and choke economic growth, said experts.

Louis Kuijs, head of Asia Economics at Oxford Economics, believes that pressure on yields and the spillover effects of a US strong stimulus would remain modest in China, but the potential volatility, especially in the stock market, should be watched. That is because of the market concerns over frothy valuations amid prospects of a less accommodative monetary policy, he said.

Fitch Ratings revised global GDP growth projections to 6.1 percent on Thursday from 5.3 percent in December, as fiscal support is being stepped up sharply, economies are adapting to social distancing and vaccination rollout gathers momentum. Global GDP fell by 3.4 percent in 2020.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 免费看a级毛片 | 久久免费视频2 | 经典香港a毛片免费观看 | 精品日本一区二区三区在线观看 | 91成人午夜在线精品 | 亚洲精品第五页中文字幕 | 欧美一级高清片免费一级 | 精品国产免费一区二区三区五区 | 欧美成人观看免费版 | 91精品国产乱码久久久久久 | 黄网在线观看免费网站台湾swag | 亚洲天堂视频网站 | 扒开双腿猛进入爽爽在线观看 | 99秒拍福利大尺度视频 | 中日韩一级片 | 久久国产网 | 国产成人在线观看免费网站 | 欧美成人在线视频 | 亚洲精品tv久久久久 | 久久国产a| 337p粉嫩日本亚洲大胆艺术照 | 欧美操操操 | 国产亚洲在线 | 久久福利青草精品资源站免费 | 国产一区二区在免费观看 | 国产成人一区二区三区 | 点击进入不卡毛片免费观看 | 亚洲高清在线观看视频 | 偷柏自拍亚洲欧美综合在线图 | 波多野在线播放 | 欧美激情欧美狂野欧美精品免费 | 老妇综合久久香蕉蜜桃 | 国产特级全黄一级毛片不卡 | 亚洲丝袜另类 | 日韩精品不卡 | 成人欧美视频在线看免费 | 欧美一级在线看 | 午夜欧美在线 | 国产主播福利片在线观看 | 免费人成在线观看网站品爱网 | 亚洲国产成人久久综合碰 |