The latest blow to hopes for a successful containment came Thursday when confirmed cases in South Korea topped 100 and it reported its first death. But they also include a possible contraction in the global economy or, in the worst case, a European and U.S . recession as global demand falls.That's not the base case at the Fed, the European Central Bank or the Bank of Japan , with no push yet for policy action or rate cuts to offset an unwelcome economic shock. "My read is if everything gets up to speed in the next few weeks it will be a minor bump that won't be an issue. Let's see - it depends on how quickly it is contained."

Source: Economic Times February 21, 2020 06:00 UTC