stimulus

    • UK eyes bad loans surge as easy Covid-19 money vanish

      UK eyes bad loans surge as easy Covid-19 money vanish

      Nothing is forever and that applies for debtors of UK banks as government stimulus programmes near their end. UK banks rushed to employ and train bad loans collectors on expected spike of problem credits. In the very near future the UK banks eye the expiration of £75bn emergency loans expiration, Reuters elaborated. The cash was disbursed with few or no questions asked to the applicants with the objective to achieve fast support of local businesses and households amid the pandemic led downturn.

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    • ECB retains pandemic bond purchases beyond March 2022

      ECB retains pandemic bond purchases beyond March 2022

      The European Central Bank is likely to preserve its pandemic bond purchase programme beyond previously earmarked March, 2022 deadline. If ECB halts the bond purchase programme which was designed to offset the consequences of the Covid-19 economic downturn, it would put at risk the stability of the European financial system, Reuters reported quoting ECB board member Fabio Panetta. His statement is likely to sparkle a conflict with the more conservative members of the bank's ruling body.

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    • US budget deficit hits all-time high of $2.06tn

      US budget deficit hits all-time high of $2.06tn

      The budget deficit of the United States expanded to an all-time high of 2.06 trillion dollars, AP reported. The budget gap grew fueled by recovery stimulus spending, aimed to offset the impact of the Covid-19 related downturn. The shortfall this year is 9.7% higher than the $1.88 trillion deficit run up over the same period a year ago, the Treasury Department headed by Janet Yellen said in its monthly budget report.

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    • ECB keeps stimulus as EU reopens

      ECB keeps stimulus as EU reopens

      The European Central Bank earmarked it would keep its supportive tools in operation although EU economy has shown solid evidence for restart, AP reported. The fiscal supportive measures were intended to end as long as Covid-19 pandemic triggered an economic slowdown. At this point ECB will have to choose the right moment to withdraw from the market as a premature reaction is likely to do more harm than good.

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    • Trump presses for $1trn stimulus as US coronavirus deaths cross 100

      Trump presses for $1trn stimulus as US coronavirus deaths cross 100

      The Trump administration pressed on Tuesday for enactment of a $1trn stimulus package, possibly to include $1,000 direct payments to individual Americans, to blunt the economic pain from a coronavirus outbreak that has killed over 100 people in the country. With cases of the respiratory illness reported in all 50 states and the total number of known US infections surging past 6,400, millions of Americans hunkered down at home instead of commuting to work or going to school.

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