Emerging market central banks have cut rates by more than 20 percentage points in the last three months to stimulate their coronavirus-ravaged economies, according to Bloomberg Economics. A number are also considering asset purchase programs. Unconventional monetary policy carries unique risks for emerging markets: With central bank independence less well-established, the risk of fiscal dominance is greater.
Companies in Germany used government support to compensate lost wages for a record 7.3 million employees in May, according to the Ifo Institute.
Things will get better for most of Asia’s developed stock markets, according to Quarz Capital Management Ltd.
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Electricite de France SA and its Canadian and German partners have finalized the funding of a 2 billion euro ($2.23 billion) offshore wind project, allowing construction to start in the English Channel.
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