The week ahead: Key economic events to watch

Highlights

  • The recent wave of the Delta variant has posed a significant roadblock in the path to global economic recovery.
  • The key economic announcements lined up ahead would provide better insight into how world leaders are planning to fight the slowdown caused by the Delta variant.

As the world grapples with the Delta variant of the coronavirus, the global economic recovery is facing yet another roadblock in the form of frozen economic activity. Though not all economies are experiencing a surge in cases, those affected with the new variant are witnessing business activity going on a standstill.

Needless to say, the lockdowns and movement restrictions that have been re-instated are adversely affecting the global supply chain. Thus, economies that were once pondering on easing economic stimulus are now facing a difficult choice. Some of the biggest countries are now engulfed in choosing between tightening policy action to curb inflation rates and providing stimulus for an economic slowdown that has ensued the restrictions.

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Regardless of the virus concerns, central banks in both the US and UK are on the path to reduce the ongoing stimulus. On the other hand, the European Central Bank and People’s Bank of China continue to provide additional support to the economy.

INTERESTING READ: How are low interest rates helping Canada & US?

Amid these changing events, let us take a look at some of the upcoming economic events across the globe in the week ahead:

Additionally, the Federal Reserve Bank of Kansas City would be hosting the annual Economic Policy Symposium on “Macroeconomic Policy in an Uneven Economy” from August 26 to 28, 2021. Central bankers and policymakers across the globe are expected to attend the event.

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