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Global Economics Monthly Review

May 2021


  • US economic activity continued to grow in the first quarter of 2021, while in the euro bloc GDP contracted for the second consecutive quarter. 
  • The rise in morbidity in a large number of countries is hampering their economic activity, with an emphasis on India, Japan, and Latin America, where morbidity has risen substantially.
  • Inflation in the developed countries continued to climb in April. 
  • The central bank of Canada announced a reduction in the quantity of asset purchases, and it said the interest rate is expected to rise during 2022. 
  • The new governor of the Turkish central bank kept the interest rate unchanged at a high rate, against the backdrop of the rise in inflation; however, we estimate he is waiting for an opportunity to cut the central bank rate..


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