US, WASHINGTON (ORDO NEWS) — Oil-producing countries will hold a meeting to discuss the reduction of oil production. European countries will also be thinking about how to strengthen the economy amid a pandemic.
In addition, important statistics will be released this week. Below we will talk about the main events of the upcoming week in the economy.
Monday, April 6
– The Fed will launch a temporary repo mechanism for foreign central banks in order to support financial markets
Starting April 6, foreign central banks will be able to exchange US Treasury securities for dollar loans. This decision of the Fed was aimed at reducing tension in world markets and supporting the Central Bank of other countries. Nevertheless, experts believe that such a measure will have a limited effect.
Tuesday April 7th
– An emergency meeting of EU finance ministers on coronavirus via video conferencing
During the meeting, finance ministers intend to discuss a new aid package, which reaches 500 million euros. As previously reported, work is underway to create a credit line for the European Stabilization Mechanism. In addition, a number of other measures are being developed to support the economies in a pandemic.
– Russian companies will publish important reporting
Sberbank PJSC will publish RAS financial results for the first quarter of 2020. Sistema JSFC may publish the results for the IV quarter of 2019.
Wednesday, April 8
– Protocol of the March meeting of the US Federal Reserve
Earlier it was reported that the Fed went to the easing of monetary policy in the United States in order to stimulate the economy in the context of the coronavirus pandemic.
– China plans to mitigate quarantine in Wuhan, where the coronavirus originated
Authorities remove restrictions gradually. Some restrictions had already been partially lifted earlier. Gradually, the city where the coronavirus originated, returns to its former life. However, residents are still required to be careful and wear masks.
Thursday, April 9
– The US will publish important statistics
The following information will be published: producer prices for March, a preliminary index of consumer confidence in the United States from the University of Michigan in April.
Friday April 10th
– Day off on the occasion of Good Friday in the UK, France, Germany and other countries; US markets closed
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The article is written and prepared by our foreign editors from different countries around the world – material edited and published by Ordo News staff in our US newsroom press.