US | Recovery Tracker blossoms as temperatures rise
The US Recovery Tracker rose 1.3ppts to 90.2 in the week ended April 9, its first reading above 90 since March 2020 and its seventh consecutive weekly gain. Progress was broad-based despite a slight worsening of health conditions as improving economic activity and rising vaccinations offset the climb in cases.
What you will learn:
- Positive vaccine developments indicate the pandemic should remain contained.
- Stronger mobility led the weekly gain as households capitalized on warmer weather and broader vaccine diffusion.
- Regional recoveries firmed, with 33 states recording higher readings.
BoK’s monetary policy to tighten even as hiking cycle ends
Even without rate hikes, central banks' monetary policies can effectively tighten if the nominal neutral rate falls below the policy rate. We expect this will be the case for the Bank of Korea this year, as the gap between the policy rate and the nominal neutral rate widens.Find Out More
China: Emerging green shoots in Spring, but not out of the woods
We now incorporate a faster recovery from the post-Covid exit wave and raise our 2023 full-year GDP growth forecast to 4.5% (from 4.2% previously).Find Out More