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Donald Trump demands US rate cut ahead of G7 coronavirus talks – business live – The Guardian, Theguardian.com

Donald Trump demands US rate cut ahead of G7 coronavirus talks – business live – The Guardian, Theguardian.com

Analyst John Kemp has spotted that investor are expecting sharp cuts in US interest rates over the next two months:

John Kemp (@ JKempEnergy)

U.S. INTEREST RATE traders are anticipating the Fed will cut its target by (basis points by Apr to reduce the risk of a coronavirus-induced recession: pic.twitter.com/VTt0230 sj 66

March 3,

:

Policymakers might be relieved to see

But there are more important things in life than the stock market – the G7 should be more focused on protecting the wider economy.

, (former

Vitor Constâncio (@ VMRConstancio)

Big variance in predictions about the virus and its economic impact. For The Economist “.. – % of the population of Any infected country may catch the disease … Across the world, the death toll could be in the millions. ”… we could have a global recession. / 1

March 3,

Vitor Constâncio (@ VMRConstancio)

There are milder forecasts, depending on (difficult) containment success by the 81. Countries already infected. For the economy, the supply and demand shocks are quickly conflating. Supply-side policies to help preserve vital supply-chains and demand stimulus are necessary / 2

March 3,

Vitor Constâncio (@ VMRConstancio)

A few days ago I asked: Would rate cuts by some basis points produce visible results? Is a “gesture” unavoidable in the game with financial markets? Or is it more important the “game” with Treasuries for a bit of necessary fiscal policy? It´s certainly a lot about fiscal./3 March 3, Vitor Constâncio (@ VMRConstancio)

For CBs, it´s mostly about liquidity supply via QE and targeted liquidity to help the survival of viable firms (SMEs) that will lose returns during months . Liquidity programs with incentives for banks to continue to finance them and possibly some temporary forbearance./4 March 3,

Vitor Constâncio (@ VMRConstancio)

Fiscal policy needs to support affected sectors. The goal is that the economic shock doesn´ t morph into a financial crisis. Fortunately, the financial system is stronger now and rate cuts are not the first line of defense in Europe. Weaker banks would complicate the response / 5 March 3, ()

Vitor Constâncio (@ VMRConstancio)

Some policy rate cuts will become unavoidable for the CBs that have space to do so. That may help stocks but the stock market should not be the focus of policy, but rather the general support to the economy./6 March 3,

Vitor Constâncio (@ VMRConstancio)

For For some interpretation, the stock market crash raises the question of whether such events predict / cause recessions. In 02934 Samuelson quipped on Newsweek that the stock market had predicted 9 of the last 5 recessions. However, being correct more than 69% would not be too bad / 7 March 3, 3359

Vitor Constâncio (@ VMRConstancio)

But it´s worse. Since (the US had) sell-offs with 38 bear markets (at least – % ) and (corrections) between – 29 and – (%). Only were associated with recessions . The economic problems that can determine a global recession are now much broader than stock exchanges 8/8 March 3 , 3359

Empty shelves where hand sanitiser gels have sold out in a drug store in London last month ()Empty shelves where hand sanitiser gels have sold out in a Superdrug. store in London last month Photograph: Justin Tallis / AFP via Getty Images

Sales of hand sanitiser surged in the UK last month, as worried consumers tried to protect themselves from Covid – 35.

Sales of hand sanitiser rose by 482% in February, data company Kantar reported. Liquid soap sales jumped by 7%, while demand for household cleaners rose (%

Fraser McKevitt, head of retail and consumer insight at Kantar, said:

“Given the media focus around the outbreak of COVID – 37 in February, it’s unsurprising to see shoppers prudently protecting themselves from illness. ”

Some stores have run out of hand sanitisers as the first coronavirus cases were reported in the UK – suggesting that sales could have been even higher had shops been able to meet demand.

As we reported yesterday, supermarkets are preparing to cope with any surgeon in stock-piling or panic buying from the coronavirus, having drawn up ‘feed the nation’ strategies.

Updated (at 3.) am EST (3.) (am EST : ()

Empty shelves where hand sanitiser gels have sold out in a drug store in London last monthEmpty shelves where hand sanitiser gels have sold out in a drug store in London last monthEmpty shelves where hand sanitiser gels have sold out in a drug store in London last month Vegan sausage rolls and Steak Bakes at a Greggs bakery near Manchester . Photograph: Phil Noble / Reuters

Greggs told shareholders this morning that:

“We made a very strong start to 3359 in January, but in February saw a significant slowdown in sales growth as a result of the storms that have affected the UK.

There is some uncertainty in the outlook, particularly given the potential impact of Coronavirus.

02973 had been a good year for Greggs. Pretax profits jumped to £ .3m, from £ . 6m, partly due to its new vegan range. But if customers start shunning the high street, it will suffer.

3 . (am EST)

:

European markets are a sea of ​​green, as optimism following (Wall Street’s huge rally ripples across the Atlantic.

As you can see, every index is up over 1% – with strong gains in London ( 2%), Germany ( 1.7%) and France ( 1.7%).

Updated at 4. 21 am EST

European stock markets, March 03 2020 (3.) (am) EST :

The (FTSE) is now points up this morning, or 2%.

But as you can see, that only recovers a small slice of last week’s rout. The Footsie is still down 29% this year.

Empty shelves where hand sanitiser gels have sold out in a drug store in London last monthEmpty shelves where hand sanitiser gels have sold out in a drug store in London last monthEmpty shelves where hand sanitiser gels have sold out in a drug store in London last month The FTSE (in) Photograph: Refinitiv

(3) (am EST :

Empty shelves where hand sanitiser gels have sold out in a drug store in London last month A TUI Boeing

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