Economy12 hours ago (Mar 22, 2020 11:51PM ET)
By Gina Lee
Investing.com – Senior Chinese officials sounded a note of optimism as they announced the control of the outbreak in the country even as cases spiked to nearly 300,000 around the world.
Governments continue to implement emergency measures to combat the spread of the pandemic, with Japan indicating that the Tokyo Olympics could be postponed
As of March 22, the number of confirmed cases globally stood at 294,110 with 12,944 deaths, according to the World Health Organisation.
China
Premier Li Keqiang and a senior central bank official separately alluded to the control of the outbreak in China on Friday, with People’s Bank of China deputy governor Chen Yulu expecting a sharp rebound in Chinese economic indicators by the second quarter. This is despite the sharp rise in case numbers elsewhere around the world.
Japan
Prime Minister Shinzo Abe told parliament on Monday that Japan must consider postponing the Summer Olympics as Canada announced that it wont’t send its athletes if the games are held as planned. The International Olympic Committee said on Sunday that it will reach a decision within four weeks.
Australia
Lawmakers meet for a special sitting on Monday to pass an additional A$6 billion ($3.45 billion) package to avert recession and save jobs. Support from the opposition Labour Party indicates that the package will likely become law within the week.
New Zealand
The Reserve Bank of New Zealand plans to buy up to NZ$30 billion ($17.04 billion) of government bonds in the secondary market over the next 12 months.
Thailand
The Bank of Thailand unanimously voted to cut its key interest rate to 0.75% on Friday. Its Monetary Policy Committee will still meet on Wednesday to review policy and provide updated economic forecasts. It is expected to slash its 2020 growth forecast from 2.8%, with some economists predicting negative growth for Thailand this year.
United States
A massive funding package to combat the impact of coronavirus did not get enough votes in a key Senate procedural vote on Sunday.
COVID 19: Chinese Optimism Despite Sudden Spike in Numbers Over the Weekend
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