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Historically, economic crises have had heterogeneous effects, but on this occasion, the consequences have been particularly devastating for women. This is partly explained by structural characteristics and those caused by the pandemic, issues that need to be addressed in order to build a sustainable recovery.
In this publication you will find, on a weekly basis, our selection of the most relevant news regarding financial regulation.
April 9, 2021
Global | The COVID-19 impact on Consumption in Real Time and High Definition: April 9th
Consumption growth sharply accelerated during March compared with last year lockdowns, this increasing growth rates are observed across all countries and sectors.
Spending with BBVA credit and debit cards or BBVA POS terminals grew 56% y-o-y in March due to the base effect caused by the start of the lockdown period a year ago. Compared to March 2019, the growth in card consumption was lower (18%).
The Board of the Central Bank decided to maintain the monetary policy rate at 0,25% in April. The Bank renewed its commitment to maintain a strongly expansive stance for a prolonged period and stated that the higher inflation observed in March is transitory.
In the first quarter of the year, consumption grew 7.5% in annual terms, partially influenced by a rebound effect due to the start of quarantines in 2020. In March, the services sectors returned to pre-pandemic levels, compensating for the lower dynamics of goods consumption.
The U.S. economy is beginning a strong expansionary cycle. The International Monetary Fund (IMF) this week adjusted its growth forecast for this country to 6.4% for 2021 and there are private analysts who forecast even higher rates.
The real estate sector has good growth prospects and will lead the country's economic recovery process. It will be driven by medium and low priced new housing. Meanwhile, higher-value housing, used housing and the non-residential sector will have a slightly later recovery.