The Bank has released the December 2020 Business Expectations Survey (BES) Report. The results suggest that firms were less pessimistic about economic activity in the fourth quarter of 2020 compared to the previous quarter while access to credit was anticipated to be tight across all markets. Meanwhile, firms expected cost pressures to rise in the fourth quarter of 2020, mainly reflecting the anticipated increase in some input costs. In all the four surveys of 2020, firms expected inflation to be stable and within the Bank’s medium-term objective range of 3-6 percent in 2020 and 2021.
The Report is attached below: