Covid spikes threaten the recovery

A resurgence in Covid cases around the world and new lockdown measures to halt the spread of the virus, are raising questions about the economic recovery, the outlook for financial markets and the response from policy makers. ING's economists and analysts share their thoughts on what might happen next

In this bundle

Eurozone: Hangover in the making while the party’s in full swing

Third quarter growth will likely be stronger in the countries hardest hit by the lockdowns earlier this year, but worries about a double dip recession,…

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United Kingdom

UK economy heading for October contraction as Covid-19 returns

The UK recovery is set to stall through the autumn and winter as the 'reopening phase' ends and new Covid-19 restrictions are brought in. As the…

Report Financial Institutions

European Banks: Do they have what it takes?

European banks have so far drawn €1,699bn funding from the ECB TLTRO-III operations. We examine whether banks are likely to reach the lending…

Switzerland

Swiss central bank: Wait, see and hope

No change in monetary policy for the SNB, which still seems to be waiting to see what happens. But the bank will now publish data on the volume of its…

Norway

Norges Bank: No helping hand to the battered NOK

The Norges Bank struck a cautious tone today. Given the global uncertainty, it verbally delayed the prospect of policy normalisation. This is clearly not…

Sweden

Sweden’s Riksbank upgrades growth assessment but signals ongoing caution

The latest Riksbank announcement signals that rates are going nowhere fast - and importantly that means a return to negative rates looks unlikely. The…

Oil demand uncertainties linger

Price action in oil had been largely rangebound over the summer months. However a slower than expected demand recovery and returning supply has seen…

Canada

CAD: Uncertain path, but the best choice in the $-bloc

A resurgence of lockdown-related risks and choppier risk environment highlight more limited downside potential for USD/CAD. Still, a well-paced economic…

Mexico

Mexico: Cutting short the easing cycle

Mexican policymakers seem ready to conclude the monetary easing cycle, even though the country’s monetary stimulus remains unusually modest, when…