Governments Shifting from Fiscal Triage to Recovery Mode, Says Deutsche Bank

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In Brief
  • Global banks appear to be shifting to recovery mode, says DB analyst.

  • Individual needs are now a primary focus.

  • Banks around the world have continued pumping liquidity into their respective economies.

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As the world economy struggles to reopen in the wake of the COVID-19 lockdown, some believe that the first stages of recovery have begun.

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This especially includes Deutsche Bank, who’s Securities Chief Economist Torsten Slok said:

Policy makers are moving from triage to recovery. They are realizing that more fiscal support will be needed to households and small businesses to prevent this liquidity crisis from turning into a solvency crisis.

The movement appears to be a shift from institutional crisis toward individual crisis, as the massive stimuli of national governments have kicked in. The bank also suggested that the recent financial crisis has driven a digital cash revolution.

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The need for greater solvency appears to be global. The European Central Bank (ECB) expanded asset purchases by $677 billion to 1.35 billion euros in total.

Japan has already approved a $1.1 trillion stimulus package. The central bank also approved $274 billion in small business loans.

China and South Korea followed similar paths, approving $508 billion and $63 billion respectively.

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With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about cryptocurrencies and blockchain technology for some of the biggest publications and ICOs in the industry. After a brief stint in India, he and his family live in southern CA.

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