John Redwood: The week the world changed

How Covid-19 upended monetary policy

clock • 5 min read

This week, the western world changed dramatically. The USA, Germany, France, UK and many other advanced economies saw the imposition of new strict controls or tough guidance to reduce people's contact with each other.

Most of the measures target hotels, restaurants, travel, sporting and cultural events, theatres, cinemas, gyms and clubs. Airlines, taxis and car hire are particularly vulnerable within the travel industry. The aim is to stop or discourage people enjoying any of the usual entertainments and tourism as these are possible means by which the virus spreads more rapidly to more people. Update: ASI suspends property funds; 'almost certain' all will follow This will cause a sharp downturn in activity. In a normal recession the downturn builds more gradually. The most exposed companies off...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read