Overseas Headlines – May 4, 2021

United States:

U.S. Trade Gap Widened to Fresh Record of $74.4 Billion in March

“The U.S. trade deficit widened to a new record in March as the value of imports surged to a fresh high. The gap in trade of goods and services expanded to $74.4 billion in March from a revised $70.5 billion in February, according to Commerce Department data released Tuesday. That matched a median estimate in a Bloomberg survey of economists.”



BOE Weighs When to Taper Its Stimulus as U.K. Economy Rebounds

“The U.K.’s economic rebound from the pandemic is already fueling speculation that Bank of England policy makers this week will start discussing how and when they can ease their foot off the stimulus pedal. The nine-member Monetary Policy Committee will maintain its target for 150 billion pounds ($209 billion) of bond purchases this year, a survey of economists shows. Some investors expect officials to slow the pace of buying so that the program stretches to the end of the year instead of ending abruptly in November.”



Korea Inflation Hits Four-Year High as Pandemic’s Grip Eases

“South Korea’s inflation accelerated in April to the fastest pace since 2017 amid a broadening economic recovery, but the pickup is unlikely to stoke concerns over excessive price pressure as calendar effects helped buoy the gains. Inflation rose to 2.3% in April, data from the statistics office showed Tuesday, rapidly increasing from 1.5% in March. Economists expected consumer prices to increase 2.1% from a year earlier.”




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