monetary policy report

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Inflation Outlook and Analysis Report – January 2021

Inflation Outlook and Analysis Report – January 2021

Global economic activity was projected to contract sharply in 2020 due to the adverse effects of the COVID19 pandemic, but the outturn was better than anticipated. The second wave of the pandemic and mutation of the virus since the last quarter of 2020 has, however, resulted in the re-introduction of restrictions and partial lockdowns in some economies, and will likely weigh down on activity in the first half of 2021.