×
24 622
Fashion Jobs
L'OREAL GROUP
Director Ecommerce - Global Digital
Permanent · New York
L'OREAL GROUP
Packaging Operator ii
Permanent · North Little Rock
L'OREAL GROUP
Analyst/sr. Analyst, Finance (Supply Chain - Cranbury dc)
Permanent · Cranbury
VICTORIA'S SECRET
District Manager - Victoria’s Secret - West New York State
Permanent · Buffalo
BATH & BODY WORKS
Senior Manager, Human Resources Stores - Bath & Body Works - Columbus, oh
Permanent · Reynoldsburg
VICTORIA'S SECRET
Manager, Product Safety
Permanent · New York
CENTRIC BRANDS
Manager, Fabric R&D (Joe's Jeans And Hudson Jeans)
Permanent · Los Angeles
CENTRIC BRANDS
Manager, Production - Sleepwear
Permanent · New York
CENTRIC BRANDS
Senior Vice President (Svp), Marketing
Permanent · New York
CENTRIC BRANDS
Sales Operations Coordinator
Permanent · New York
CENTRIC BRANDS
Account Executive - Robert Graham
Permanent · Los Angeles
CENTRIC BRANDS
Manager, Basis And Security
Permanent · Greensboro
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Nampa
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Raleigh
ULTA BEAUTY, INC.
Retail Sales Manager
Permanent · Hilliard
ULTA BEAUTY, INC.
cO-Sales Manager
Permanent · Oak Brook
SALLY BEAUTY CORPORATE
District Manager
Permanent · Houston
SALLY BEAUTY CORPORATE
2nd Shift Production Warehouse Supervisor
Permanent · Jacksonville
SALLY BEAUTY CORPORATE
Inventory Accounting Manager
Permanent · Denton
SALLY BEAUTY CORPORATE
IT Business Consultant
Permanent · Denton
SALLY BEAUTY CORPORATE
3rd Shift Inventory Control Specialist - Cycle Counter
Permanent · Jacksonville
SALLY BEAUTY CORPORATE
sr. IT Manager HR/Payroll Solutions
Permanent · Denton
By
Reuters API
Published
Nov 30, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Euro zone may need more fiscal, monetary support because of second Covid wave - IMF

By
Reuters API
Published
Nov 30, 2020

Euro zone governments and the European Central Bank may need to provide more fiscal and monetary support than initially expected because of the effects of the second wave of the COVID-19 pandemic, the International Monetary Fund said on Monday.




The overall value of fiscal and monetary support on offer, combined with access to trillions of euros of cheap loans and new EU-level funding still under debate, already exceeds 10 trillion euros.

The IMF said that while that response is impressive, more might be needed if the economic outlook deteriorates further.

"Risks ... remain clearly to the downside through early 2021 given the ongoing second wave," the IMF said in a regular review of the euro zone economy.

"With the ongoing second wave, national fiscal policies will likely need to provide broad-based support for longer than initially envisioned."

In an unprecedented show of solidarity, European Union governments have agreed to jointly borrow 750 billion euros over the next few years against the security of the EU budget. They will disburse the money amongst themselves as grants and loans to help the economy recover from the effects of the pandemic.

The IMF said the impact of that scheme would depend on the scale, quality and efficiency of national spending it supports and structural reforms aimed at transforming economies to be greener and more digital.

The Fund praised the monetary policy response of the ECB to the economic downturn caused by the pandemic as appropriately bold, but said further support was likely to be needed, possibly including more cheap TLTRO loans and other help for banks.

"Expanding asset purchases will be the first line of defence, but other options -- including further relaxation of Targeted Longer-Term Refinancing Operations' terms and a deposit rate cut -- should also be considered," it said.

"Even greater accommodation would be needed to counter deflation risks and ensure smooth monetary transmission in a downside scenario," the IMF report said.

Euro zone consumer prices have been falling year-on-year since August for the first time since 2016, further challenging the ECB which wants to keep inflation just under 2% in the medium term but has for years failed to reach that target.
 

© Thomson Reuters 2021 All rights reserved.

Tags :
Others
Industry