United States:
U.S. Retail Sales Seen Stagnating in December Due to Virus Surge
“U.S. retail sales probably stagnated in December after declining in recent months as a surge in coronavirus infections led to new business restrictions and limited economic activity during the all-important holiday-shopping season. Economists project Friday’s government report will show that overall receipts at the nation’s retailers were little changed from November, while sales excluding auto dealers fell for a third straight month, according to Bloomberg survey medians.”
Europe:
ECB Won’t Need Extra Stimulus to Fight Pandemic, Economists Say
“The European Central Bank won’t need to boost its monetary stimulus again to pull the euro-area economy out of its current crisis, according to a Bloomberg survey. The latest pandemic lockdowns and a likely double-dip recession for the euro zone aren’t enough to push officials into revamping the ultra-loose policies they set in December, economists said. That means the 1.85 trillion-euro ($2.25 trillion) emergency bond-buying program is seen coming to a halt as scheduled in March 2022.”
Asia:
Bank of Korea’s Lee Warns Against Asset Rally Driven by Debt
“Bank of Korea’s Governor Lee Ju-yeol warned against excessive borrowing that has spurred a rally in the country’s stock and property markets, while pledging to continue support for a fragile economic recovery. Speaking at a briefing after the board unanimously agreed to hold its key rate at 0.5%, Lee said recent gains in the Kospi stock index and housing prices have been rapid, especially when compared with the state of the real economy.”
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