Taper Patience, Vaccine Protectionism, Decoupling Costs: Eco Day

Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • Federal Reserve officials expected it would be “some time” before conditions to scale back bond purchases were met, leaving open the question of whether any tapering could start before 2022
  • World Trade Organization Director-General Ngozi Okonjo-Iweala urged the EU and all other WTO members to end export restrictions on vaccines and other medical goods needed to combat the pandemic
  • American companies would lose hundreds of billions of dollars, the U.S. Chamber of Commerce said in a report highlighting the cost of a full decoupling of the world’s largest economies
  • Indonesia’s central bank is expected to resume lowering interest rates Thursday after a two-month pause as a recovery in Southeast Asia’s biggest economy struggles to gain traction: Decision Guide
  • The U.S. economy started 2021 with a bang as retail sales and factory output accelerated and expectations build for another jolt of stimulus, setting the stage for what could be the best year of economic growth in nearly four decades
  • The Bank of England has more scope to increase its bond-buying program to stimulate the economy, a key policy maker said, a sign that officials may be reluctant to push borrowing costs below zero
  • Prime Minister Mario Draghi urged Italians to pull together in a historic effort to rebuild their country as he set out an ambitious, firmly pro-European agenda for his new government

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