SINGAPORE (July 3): Covid-19 has upended human behaviour as we know it. Because of lockdowns and circuit breakers, economic growth has taken a hit. To revive, in particular, the US economy, the US Federal Reserve is committed to unlimited quantitative easing, with other central banks such as the European Central Bank and Bank of Japan taking similar steps. With the exception of China, governments in developed and emerging economies have unleashed trillions of dollars in stimulus spending. In Singapore, the government announced four budgets comprising $93 billion to support households and jobs.

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