Overseas Headlines – May 28, 2021

United States:

U.S.’s $795 Billion Rescue Saved Jobs. No One’s Sure How Many

“It’s been a lifeline for millions of U.S. small businesses during the pandemic, or a bloated bureaucratic nightmare, depending who you ask — and maybe a bit of both. The U.S. government’s sprawling Paycheck Protection Program officially wraps up its 13-month existence on Monday. Economists will be studying PPP for far longer than it was operating to figure out how many jobs it saved.”



ECB Expected to Keep Its Higher Bond-Buying Pace Through Summer

“The European Central Bank is increasingly expected by economists and investors to extend the elevated pace of its emergency bond-buying at its next meeting, despite a likely economic rebound. HSBC Holdings Plc, UBS Group AG and ABN Amro Bank NV are among those who expect the Governing Council to prolong current stimulus settings on June 10. Economists surveyed before the previous meeting said purchases would probably be scaled back.”



Kuroda Says BOJ Will Mull Climate in Monetary Policy Discussions

“The Bank of Japan will consider climate change in its monetary policy discussions, Governor Haruhiko Kuroda said in his clearest signal yet that the central bank is looking to support the battle against global warming. “We have a great interest” in climate change and its impact on the economy and the financial system, Kuroda said in an interview with Bloomberg on Thursday. “Naturally, how we respond to this at the level of monetary policy will become a topic of discussion.”



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