BC says that pandemic will have a significant contraction on the market

The Central Bank’s Monetary Policy Committee stated that the information available is already sufficient to show that the Covid-19 pandemic will have an “extremely significant contractionary effect on global activity”. For the BC, the fiscal and monetary measures adopted by the main economies tend to “mitigate only a small part of these effects”. The BC added that, for emerging countries, the environment quickly changed from “favorable to challenging”.

Source: G1