×
56 723
Fashion Jobs
ULTA BEAUTY, INC.
Retail Operations Manager
Permanent · Evans
ROSS
Store Protection Specialist
Permanent · Los Angeles
ROSS
Store Protection Specialist
Permanent · Fresno
NORDSTROM
Retail Stock - Manchester Highlands Rack
Permanent · Manchester
NORDSTROM
Asset Protection - Agent - Northern Cal Distribution Center
Permanent · Newark
NORDSTROM
Asset Protection - Agent - International Plaza
Permanent · Tampa
NORDSTROM
Asset Protection - Agent - Topanga Rack
Permanent · Los Angeles
NORDSTROM
New Store Opening 05/25 - Retail Stock - San Clemente Rack
Permanent · San Clemente
NORDSTROM
Store Support - Stock Shoes - Burlington
Permanent · Burlington
NORDSTROM
Retail Stock & Fulfillment - Santa Monica Place
Permanent · Santa Monica
NORDSTROM
Asset Protection - Coordinator - Gainesville Distribution Center
Permanent · Gainesville
NORDSTROM
Overnight Retail Stock & Fulfillment - Stonebriar Centre
Permanent · Frisco
NORDSTROM
Retail Stock - Promenade Shops Rack
Permanent · Miami
NORDSTROM
Overnight Retail Stock & Fulfillment - Domain Northside
Permanent · Austin
NORDSTROM
Retail Stock & Fulfillment - Irvine Spectrum Center
Permanent · Irvine
NORDSTROM
Asset Protection - Agent - Phipps Plaza
Permanent · Atlanta
NORDSTROM
New Store Opening 05/25 - Retail Stock - The Summit Rack
Permanent · Birmingham
NORDSTROM
Asset Protection - Agent - Commons at South Towne Rack
Permanent · Sandy
NORDSTROM
New Store Opening 5/25 - Asset Protection - Agent - San Clemente Rack
Permanent · San Clemente
NORDSTROM
Assistant General Manager- Marketplace Cafe- Bellevue Square
Permanent · Bellevue
COTY
Manager, Corporate Finance (Special Projects)
Permanent · New York
COTY
Senior Manager CRM & Personalization
Permanent · New York
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 2023 All rights reserved.

Tags :
Industry