The Bank released the June 2020 Business Expectations Survey. The results suggest that firms are less optimistic about economic activity in the second quarter of 2020 compared to the previous quarter. Overall, businesses expect a deterioration in all business condition indicators (Chart 2). Access to credit was anticipated to be much tighter in the domestic market compared to other markets. Meanwhile, firms expect cost pressures to fall significantly in the third quarter of 2020, mainly reflecting the anticipated reduction in costs of wages, transport, rent and materials. Firms also expect inflation to remain stable and within the Bank’s medium-term objective range of 3 - 6 percent, in 2020 and 2021. The Survey Report is attached below:
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