Russia | Recovery Tracker afflicted by Delta variant
The rapid spread of the Delta variant has resulted in a third wave of Covid-19
infections, almost as severe as the wave that struck the country last winter. But activity has proven resilient: The Recovery Tracker remains above 90,
compared to 84 last December. And the current wave appears to have peaked.
What you will learn:
- Moscow and St. Petersburg have seen the biggest increases in daily numbers of new Covid-19 cases
- Transport and retail mobility have been almost unaffected by this latest wave
- Overall financial flows and energy consumption have remained above pre-pandemic levels
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Our suite of nowcasting models corroborates our tepid near-term expectations for the hibernating eurozone economy, indicating Q1 growth will come in at 0.1% q/q. This is a touch below our 0.2% q/q baseline forecast, though the spread of results across our models plus mixed signals from latest data highlight the uncertainty around the immediate growth outlook.Find Out More
Will Japan policy adjustments accompany the end of NIRP?
Markets appear to be increasingly converging with our forecast that the Bank of Japan will abolish its negative interest rate policy at the April meeting, but views diverge on whether any other policy adjustments will accompany the end of NIRP.Find Out More