Finally, inflation and macroeconomic volatility may harm some sectors of the economy disproportionately, such as manufacturing or exportoriented industries, in which wages tend to be relatively lower. Overall, monetary policy aimed at low inflation and economic stability is the most likely to lead to greater social equality over the longer term.
In any case, some recovery is already being seen as major economies open up further, supported by the optimism brought about by the gradual deployment of COVID-19 vaccines. On the domestic front, economic prospects are expected to improve as infrastructure and social programs, health capacities, and fiscal policies gain traction.