The U.S. cannot reach an economic rescue plan in the short term
The market is still imagining that the White House and the Democratic Party can reach a partial economic rescue plan in the short term to bring relief to the economy as soon as possible. However, as seen yesterday, the Speaker of the U.S. House of Representatives, Pelosi, stated that she will only reach a partial economic rescue plan agreement with Treasury Secretary Mnuchin, and that a more comprehensive economic rescue plan agreement will eventually be reached. Obviously, the Democratic Party will not abandon the economic rescue plan that it has been advocating for a larger scale than the Trump administration requires. It seems that in order to win votes for the general election, the two parties in the United States have their own calculations. It seems unlikely that a plan will be passed before the general election.
The Governor of the Bank of England said that the UK is fully prepared to deal with a new round of epidemic
Bank of England Governor Bailey said that the recent escalation of the epidemic in the UK has put a high degree of uncertainty in the economic outlook, and there are also downside risks. He also pointed out that the central bank currently still has a backup policy. If a new round of the epidemic breaks out, it will use policy tools to alleviate the impact of the epidemic. In view of the fact that the British epidemic is still not under control, Bailey’s remarks increase the market’s opportunity for the Bank of England to introduce easing policies in the short term.
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