(Bloomberg) — Singapore’s central bank is likely to keep monetary policy unchanged Wednesday as it allows fiscal measures to do the heavy lifting in getting the city-state’s economy back on track.

The Monetary Authority of Singapore, which uses the currency as its main policy tool rather than interest rates, probably will refrain from changing any of the three currency band settings, according to all 19 economists surveyed by Bloomberg.



chart: Singapore Monetary Policy History


© Bloomberg
Singapore Monetary Policy History

The MAS — which typically makes policy decisions twice a year, in April and October — took the unprecedented step in its last announcement of lowering the midpoint of the currency band and reducing the slope to zero. That meant it would allow for a weaker exchange rate to head off deflation and support the export-reliant economy.

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Since then, the economy has plunged into recession amid the pandemic and the government has unleashed

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Government-employee unions are an economic army devoted to destroying business and industry — unless the business is dependent on government spending.

Here in New Jersey, the unemployment rate is 10.9%. Because of coronavirus safety restrictions, we are living under a central-command economy where the government decides who can be open for business and how they can open their businesses.

No sense of shame stopped the state from raising the gasoline tax 9.3 cents a gallon this month (under a formula triggered by a previously approved road-funding mechanism) during an economic downturn that this government caused. This does not bother the government unions one bit. No matter how bad the economy is, they will get their money.

The government and the media incited the masses with the fear of coronavirus. I think the danger is being exaggerated for political purposes. Through media propaganda and the promise of more compensation from taxpayers,

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Friday's report was compiled by BIS, the Bank of England, the U.S. Federal Reserve, Bank of Canada, Bank of Japan, the European Central Bank, Sveriges Riksbank and the Swiss National Bank. File Photo by Canadastock/Shutterstock/UPI

Friday’s report was compiled by BIS, the Bank of England, the U.S. Federal Reserve, Bank of Canada, Bank of Japan, the European Central Bank, Sveriges Riksbank and the Swiss National Bank. File Photo by Canadastock/Shutterstock/UPI

Oct. 9 (UPI) — The Bank of International Settlements and seven central banks around the world published a report Friday that set a framework for a digital currency to work in conjunction with paper money.

The report highlights three key elements of the proposal — cryptocurrency coexisting with cash in a flexible payment system, supporting wider policy objectives and promoting innovation and efficiency.

“This report is a real step forward for this group of central banks in agreeing on the common principles and identifying the key features we believe would be needed for a workable [central bank digitalcurrency] system,” Jon Cunliffe, the deputy governor for the Bank of England, said in a statement.

Along with

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Having long been buttressed by ample liquidity, financial markets are entering the final quarter of 2020 amid an increasingly tentative global economic recovery, unusual political uncertainties and lagging fiscal and structural policy responses. And these headwinds come on top of the Covid-19 crisis, which has left most countries struggling to strike a balance between protecting public health, achieving a return to a semi-normal level of economic activity and limiting infringements on individual liberties.

In this context, the hope is that today’s generous liquidity conditions, enabled and supported by central banks, will continue to provide a bridge to a better 2021, not only reversing the economic and social damage but also delivering further gains to investors. But will this bridging operation, already deployed for several years to compensate for other headwinds, be sufficient to overcome what is an increasingly complex pandemic cocktail?

Recent economic data indicates that, outside of China

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SYDNEY (Reuters) – Australia’s central bank held its cash rate at a record low on Tuesday but hinted at further monetary easing as it looks to create jobs in the coronavirus-ravaged economy, which is suffering its worst contraction since the Great Depression.

The Reserve Bank of Australia (RBA) kept the rate steady at an all-time low of 0.25%, as widely expected in a Reuters poll. It also affirmed its target for three-year bonds and the recently increased cheap funding program for lenders, but signalled it was considering other measures to boost activity.

“The Board views addressing the high rate of unemployment as an important national priority,” RBA Governor Philip Lowe said in a statement announcing the outcome of the policy meeting.

“The Board continues to consider how additional monetary easing could support jobs as the economy opens up further.”

ANZ Bank said the language suggested an RBA cut was imminent

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FILE PHOTO: People walk at the central business district, amid the coronavirus disease (COVID-19) outbreak, in Singapore July 14, 2020. REUTERS/Edgar Su

SINGAPORE (Reuters) – Singapore’s economic decline is expected to have slowed significantly in the third quarter as the city-state loosened coronavirus curbs, giving the central bank room to keep monetary settings unchanged when it meets next week.

Gross domestic product (GDP) is expected to contract 6.8% from the same period a year earlier, according to the median forecast of 11 economists in a Reuters poll, marking the third straight quarter of decline. The economy had shrunk 13.2% in April-June – its worst performance on record as the country went into lockdown.

GDP may jump 35.3% on a quarter-on-quarter seasonally adjusted and annualised basis in July-September, the poll showed, picking up from a 42.9% plunge in the second quarter.

“We expect a rebound from

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The Evansville Vanderburgh Public Library has established Business Central. EVPL’s Business Central is a hub, both digital and physical, of resources for those looking to further their career, improve skills, start a new business and more.



a group of people standing in front of a building: Community members use the computer lab set up in the Browning Room at Evansville’s Central library Thursday afternoon, Sept. 10, 2020. The computer lab is open to the public from 11 am -3 pm, Monday- Saturday.


© MaCabe Brown / Courier & Press
Community members use the computer lab set up in the Browning Room at Evansville’s Central library Thursday afternoon, Sept. 10, 2020. The computer lab is open to the public from 11 am -3 pm, Monday- Saturday.

“EVPL’s Business Central is ready to assist you with your career or your business,” EVPL CEO-Director Scott Kinney said. “We have the tools and resources available to help everyone from those beginning their career to veteran business owners.”

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Knowledgeable staff can help guide library users through available resources to build a resume, practice interview skills and get assistance with job searching. To navigate how to start a small business,

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The Central Trade Unions belonging to the Opposition camp and several independent federations have called for a general strike on November 26 demanding the Centre withdraw the three Farm Acts and four Labour Codes. They said the policies of Narendra Modi Government are anti worker, anti farmer and anti national.

An online convention of the ten CTUs also demanded the Centre transfer ₹ 7,500 per month to all families below the income tax limit, 10 kg free ration per person per month to all needy, expansion of the MGNREGA to provide 200 days’ work in a year in rural areas at enhanced wages, extension of employment guarantee to urban areas, stop privatisation of public sector including the financial sector and stop corporatisation of Railways, Ordinance Factories and Ports. The convention has also asked the Centre to withdraw the circular on “forced premature retirement” of Government and PSU employees and demanded

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By Susan Mathew

Oct 2 (Reuters)Argentina’s peso dropped on Friday after the central bank said it would allow a managed float of the currency, while most other Latin American units fell as global sentiment took a hit after U.S. President Donald Trump tested positive for the novel coronavirus.

The Argentine peso ARS=RASL led losses with the bank saying it would abandon its current “uniform daily devaluations and introduce greater volatility” as the gap between the official exchange rate and the rate quoted in informal currency markets widened close to 93%.

The bank said it would offer trades at 76.95 pesos per dollar at Friday’s open, around 0.91% weaker than the close on Thursday. It also increased the important overnight repo rate to 24%, from the current 19%.

“Even if the number of measures announced is not low, we do not expect them to change the current dynamics.

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Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year.

Citigroup Inc sees demand from the official sector rising to about 450 tonnes after a drop to 375 tonnes this year, which would be the lowest in a decade. HSBC Securities (USA) Inc expects a slight uptick to 400 tonnes from an estimated 390 tonnes in 2020, potentially the second-lowest amount in 10 years.

While the forecasts are far from the near-record purchases of more than 600 tonnes a year seen in both 2018 and 2019, increased central bank activity will help bolster bullion. Russia could return to the market next spring and China’s central bank may resume adding to reserves after the US elections, Citi said in a report this month.

This development may have a bigger impact on the market if exchange-traded

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