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The Reserve Bank of Australia minutes from its 3 November 2020 meeting describe the global economy in the early stages of recovery from the largest contraction in decades. Members noted that China and some Asian economies had largely reversed earlier contractions while Europe and the US remained well below pre-pandemic GDP.
Members stressed high uncertainty tied to the pandemic.
The outlook for slower recovery in Europe and the US points to softer demand for feed and protein, while the strength in China supports its import demand.
rba.gov.auscheme=AGLSTERMS.AglsAgent, corporateName=Reserve Bank of AustraliaNov 3, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
