To help clients understand and mitigate the macroeconomic consequences of the COVID-19, RIMES provides forecast data from its long-standing partner Consensus Economics. The research data, which is available to consume in a feed-ready format through the RIMES Managed Data Services (MDS), includes forecasts of the likely impact of the economic slowdown caused by the pandemic on GDP, inflation, interest rates and exchange rates for 2020 and 2021 as well as implications for government budgets.
The data helps research, quant, risk and investment teams at financial sector firms make the right strategic, risk and investment decisions in the months ahead. To ensure the data is up-to-date and accurate, Consensus Economics closely monitors the ongoing economic situation and updates its forecasts accordingly. RIMES formats and validates the data so it is ready for immediate use in clients’ operational systems.
Consensus Economics’ forecasts reflecting the impact of COVID-19 suggest that over 2020 there will be a substantial increase in fiscal deficits worldwide. USA and European countries will experience the largest deficit growth. However, the research also predicts that GDP growth will recover somewhat later this year and into 2021. This will relieve some of the strains on fiscal policy and more generally improve government finances. As a result, fiscal deficits will likely shrink in 2021.
Patrick Walsh, Global Head of Content Management at RIMES, commented: “In these uncertain times financial sector firms need all the data they can to plan effectively for the future. Consensus Economics’ is widely recognized as the go-to source of timely and accurate macroeconomic forecast data and its new forecasts around COVID-19 will of huge benefit to clients as they look to minimize risk and make the right investment and planning decisions for their firms.”
Philip Hubbard, Director, added: “Our clients want fast access to accurate forecasts that can help the navigate uncertainty. RIMES adds real value in this respect as its takes on the complex and time-consuming tasks of onboarding, normalizing and streamlining the provision of our data. That means clients can focus on applying our forecasts to decisioning rather than getting bogged down in data management processes. This timeliness is vital in volatile economic conditions such as those we are currently experiencing.”
The content provided in these articles is intended solely for general information purposes, and is provided with the understanding that the authors and publishers are not herein engaged in rendering regulatory or other professional advice or services. Consequently, any use of this information should be done only in consultation with qualified legal counsel. The information in these articles was posted with reasonable care and attention. However, it is possible that some information in these articles is incomplete, incorrect, or inapplicable to particular circumstances or conditions. We do not accept liability for direct or indirect losses resulting from using, relying or acting upon information in these articles.
- Financial Sector Regulations in Australia: The Aussie Rules are Tightening Up
- Panel Discussion: The New Normal
- Consolidation in Australia’s Superannuation Funds Market: Data Quality Comes to the Fore
- Benchmarks Regulation White Paper Update
- RIMES awarded Best Ops Data Management Solution for the fifth time