As the rebound of COVID-19 in many parts of the world intensifies, many countries' previous economic stimulus policies to cope with the impact of coVID-19 will have to be extended or increased, and relevant measures to ease the flow of people will also be tightened again.

The US will extend stimulus and aid policies

As the outbreak has rebounded sharply in many parts of the United States, the deployment of economic measures has had to be extended or intensified.

Us economic activity and employment have recovered after a sharp decline, but remain well below the levels seen at the beginning of the year, the Federal Reserve said in a statement after its two-day monetary policy meeting. In the future, economic development will largely depend on the development of the epidemic. The continuing public health crisis will have a severe impact on economic activity, employment and inflation in the short term and pose considerable risks to the economic outlook in the medium term.

'The Fed will maintain ultra-low interest rates until we are confident that the economy is past the crisis and on track to achieve our twin goals of maximum employment and price stability,' the statement said. At the same time, the Federal Reserve will continue to monitor the impact of relevant information, including the outbreak and economic data, on the economic outlook, and is committed to using all its tools and taking appropriate action to support the economy.

The Fed also extended the temporary DOLLAR liquidity swap agreement and the temporary repurchase Agreement facility for foreign central Banks and international monetary authorities until March 31, 2021. The two mechanisms were set up in March to help alleviate pressures on global US dollar financing markets and thus the impact of these pressures on household and corporate credit both at home and abroad.

Federal Reserve Chairman Colin Powell said at a news conference that the outlook for the U.S. economy is uncertain and will depend to a large extent on the success of bringing the epidemic under control. The number of confirmed COVID-19 cases in the US has risen in recent weeks as new efforts to contain the spread of the epidemic have begun to weigh on economic activity. To support the recovery, the Fed has pledged to use all its credit and liquidity facilities. At the same time, fiscal policy is also crucial and will play an irreplaceable role.

The fed's policy meeting came as the dollar fell to a two-year low this week and a surge in confirmed COVID-19 cases across the US left investors losing confidence in the sustainability of the on-again, off-again recovery that began in May. The DOLLAR index, which measures the greenback against a basket of currencies, fell 0.4 per cent yesterday, bringing its monthly decline to about 4 per cent.

Despite the extension of the loose monetary policy, the US Congress's new aid agreement for the impact of the epidemic, such as unemployment benefits, is still pending, and the old aid package expires on March 31.

Senior trump administration officials have met privately with Democrats to see if they can narrow a wide gap over the increase in unemployment benefits that will start at the end of March. A number of other issues remain to be resolved, including what to do with the moratorium on housing evictions, which now expires.

So far, the U.S. Congress has approved more than $3 trillion in aid to help cushion the blow of the epidemic. Democrats want to extend $600 in additional unemployment benefits for several months.

Thune, the No. 2 Republican in the Senate, said lawmakers might have a better idea by the end of the week about whether there was a chance to reach a deal so "we can actually get a deal by the end of next week." While some Republicans have talked about the need for a stopgap measure to extend additional unemployment benefits, House Speaker Nancy Pelosi has said she does not support doing so.

Japan may adjust its tourism stimulus package

Japan is now experiencing the peak of the second rebound of the epidemic, and its tourism policy may face pressure to adjust.

Novel Coronavirus infected with novel Coronavirus confirmed 1,260 new cases in Japan on Wednesday, with the number of infections exceeding 1,000 in a single day. Aichi, Osaka, Fukuoka and other places hit new highs, with significant growth in urban areas outside Tokyo. The first coVID-19 infection has been confirmed in Iwate prefecture, with people infected in all counties and cities across the country. In the absence of an effective response after the lifting of the declaration of state of emergency, the epidemic continues to spread and the government's policy of promoting tourism incentives is facing adjustment.

According to Kyodo News, Japan and Vietnam first started to relax tourist measures in phases in June. It is also coordinating with Thailand, Australia and New Zealand, and China and South Korea are also under consideration.

Experts say the government's travel support program, GoToTravel, is inappropriate in Japan at a time when the number of infected people is rising beyond the state of emergency declaration.

To help the tourism industry weather the storm by boosting domestic travel, the government plans to start promoting domestic travel on July 22 with subsidies worth up to half of travel expenses. Each tourist can get a subsidy of up to 20,000 yen per day when he/she goes on a lodging trip. One-day round-trip trips can be subsidized up to 10, 000 yen. Specific forms of discount include: tourists can enjoy 35% discount on transportation and accommodation expenses, and 15% discount on catering, shopping, sightseeing and transportation expenses in tourist destinations by means of coupons.

However, many people and experts are deeply concerned that the mass movement of people will lead to widespread spread of the epidemic. A number of local officials, including Tokyo governor Yuriko Koike and Osaka governor Yokio Yoshiura, have made their objections clear.

Japan's minister for Economic Regeneration, Konoru Nishimura, said at a press conference recently that the number of infected people in The country is increasing, and he will appeal to the economic community to raise the ratio of employees working from home to 70 percent. It also wants people to avoid "drinking parties" and large gatherings.

Europe was forced to suspend its closure

Faced with the trend of a second outbreak, many European countries began to suspend the previously scheduled policy of unsealing and strengthen control.

The number of new cases in many European countries has increased dramatically, which is of great concern, Lott Weiler, an expert with the Robert Koch Institute of Disease Control and Prevention in Germany, said Tuesday. German Health Minister Stephane Spahn announced Wednesday that travelers entering Germany from high-risk areas will be obliged to receive nucleic acid tests immediately after arriving in Germany.

Italian Prime Minister Guido Conte announced that the state of emergency, which was due to expire on July 31, will be extended until October 15 to better take measures against the outbreak. The Italian government is closely watching the emergence of small clusters of infections across the country, and stands ready to take measures such as local closures if necessary, Health Minister Alberto Spelenza said Wednesday. In the southern region of Campania, people who do not wear masks in public could face a fine of up to 1,000 euros. Local public transport operators have also been asked to refuse passengers travelling without masks.

As of Thursday, Romania had more than 1,000 new coVID-19 cases in a single day for eight consecutive days. In order to contain the spread of the epidemic, the Luo government issued a series of new measures on the day, including from August 1, residents must wear masks in crowded outdoor places, open-air restaurants, clubs, bars and other places must take measures to ensure that the number of customers does not exceed the number of seats, to avoid physical contact between people.

Romania began phasing out the closure on 15 May, but the outbreak began to rebound in mid-June, forcing the suspension of the fourth phase, which was originally scheduled to begin on 1 July.

Spain has 28,0610 confirmed cases of COVID-19, 28,436 deaths and 905 new confirmed cases in the past 24 hours, according to ministry of Health data on July 29. Masks are now required in public places across Spain, and authorities in Catalonia, the region hardest hit by the outbreak, imposed a curfew On Monday and vowed tougher measures if new cases remain high within 10 days