Hints and tips:
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...Some Japanese lawmakers have suggested learning from France, where households’ income taxes are reduced for every child and dependent....
...There has been much discussion of the impact of increasing energy costs on households and the impossibility for many of settling the sums that will be demanded of them (“Millions face energy poverty as household...
...“The housing voucher programme gets no cash support from the central bank....
...The result was a sharp V-shaped economic recovery from the pandemic lows....
...The virtual currencies used on Roblox and Fortnite are called Robux and V-Bucks, which can be purchased online or as gift cards....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com....
...The Japanese bank’s analysts point to China’s road freight index, a closely watched gauge of economic activity, down almost 20 per cent year on year, and sales volume of new homes slumping nearly a third...
...The committee will be led by Jeffery Stein, a former executive at US oil group Whiting Petroleum, as chief restructuring officer....
...However, the challenge is that the recovery will be rapid, and progress towards its goals will come sooner than the central bank expects....
...My point in telling you about my holidays is simple: I am in the vortex of Britain’s stunning V-shaped recovery....
...The findings echo analysis from the Bank of England last week, which calculated Britons had saved an extra £180bn in their bank accounts during the crisis, or almost 10 per cent of the UK’s annual gross...
...When the private sector is struggling, “fiscal discipline” can prompt a permanent fall in aggregate demand and output, which unnecessarily stifles employment and household incomes, while leaving future generations...
...And poorer households, which are more likely to respond to changes in their financial conditions, will not have enjoyed the same accumulation of savings....
...Both may be less a disaster-in-waiting and more a sign of the pent-up demand that, in normal life, would make a V-shaped economic recovery likely in the developed world....
...“This ‘boom’ is not like the one of 2003-06, which was of the lower-to-middle end of the market and dominated by British buyers,” says Smadar Kahana of E&V....
...Andrew Bailey, the new Bank of England governor, was accused of producing overly rosy predictions on Thursday after the central bank said it expected a V-shaped economic recovery from the coronavirus crisis...
...Household savings ratios have been very high because of government support, and there are signs that excess savings are now being allocated towards groceries, household goods, durable consumer items and...
...Christine Lagarde, president of the European Central Bank, recently cited a surge in household bank deposits as reason for caution on the speed of the economic recovery, which she forecast would be “sequential...
...He added that this was likely to suggest a slower recovery than the “so far, so V [shaped]” assessment of the BoE’s chief economist, Andy Haldane....
...But households would save more of their incomes than they did last year, he said, meaning “a sustained V-shaped recovery in households’ spending is out of reach”....
...“They understand the concept of being on Fortnite [the online video game] and only having 200 V-Bucks left on their account. I think gaming can help young people become more financially confident....
...“The V-shaped recovery that the BoE continues to project seems unlikely, to put it very mildly,” said Kallum Pickering, economist at Berenberg, the investment bank....
...The Bank of England’s chief economist has said the UK economy is recovering much faster from the coronavirus lockdown than the central bank had expected, casting doubt on the need for further stimulus....
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