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13 Mar 2020

JP Morgan forecasts a US recession for 2020

JP Morgan has revised its US gross domestic product (GDP) forecast to -2 percent annualized growth in the first quarter of 2020, and -3 percent in the second, as tweeted by CNBC contributor James Pethokoukis. 

Essentially, the investment bank sees the US economy falling into a recession this year. An economy is said to be in a recession when the GDP growth rate is negative for two consecutive quarters or more. 

Forecasts assume the government will deliver a $500 billion fiscal stimulus and suggests that GDP could return to positive in the third quarter if the coronavirus outbreak slows. 

Mar 13, 2020

China’s NHC: Mainland reports 8 new confirmed coronavirus cases, 7 new deaths

According to China’s National Health Commission (NHC), Mainland China reported 8 new confirmed coronavirus cases and 7 new deaths as on end-March 12.
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Mar 13, 2020

S. Korea FinMin Official: Don't see any problem in local financial institutions' fx liquidity

Reuters reports the latest comments from a South Korean Finance Ministry Official, with the key headlines noted below. Don't see any problem in local
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