Yellen Relaxed on Inflation, Hong Kong Back, Job Puzzle: Eco Day

Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • The U.S. economic plan is unlikely to create inflation pressure because the boost to demand will be spread over a decade, said Treasury Secretary Janet Yellen. Yet inflation bulls are seeing a green light from Fed chief Jerome Powell to double down on wagers
  • Hong Kong is finally turning the corner, with the economy expected to expand for the first time since 2019
  • Companies are hiring and unemployment is falling across most advanced economies on hopes that vaccines will eventually contain the Coronavirus. But not every job is coming back, says Enda Curran
  • Euro bulls are out in force this week, after Jerome Powell poured cold water on bets the Fed was set to withdraw aggressive stimulus
  • Abhishek Gupta looks at key issues for India’s economy and the virus
  • Australia’s central bank will maintain its highly supportive policy settings despite surging growth and falling unemployment, as it faces up to the challenge of record-low wages and inflation. Meantime, the budget deficit will be $23 billion narrower than a December forecast
  • The Asian Development Bank’s fossil fuel financing policy lags peers and its support for natural gas projects threatens climate goals
  • Malaysia and Singapore will allow travel between the two countries on compassionate grounds or for family emergencies from May 17
  • The country with the longest history of negative rates just hit a milestone that may offer a glimpse of what’s to come elsewhere
  • These are the places where President Joe Biden’s battle against U.S. inequality will be lost or won
  • A social media post juxtaposing China’s successful launch of a module into space with grim cremation pyres in India was deleted after it sparked online criticism. Meantime, the New Zealand High Commission in New Delhi turned to Twitter to seek oxygen cylinders

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