WAUKESHA, WI— Waukesha County Board of Supervisor’s Finance Committee will hold a public hearing on the 2021 budget at 8:15 a.m. Wednesday. The public hearing will be held in the County Board committee room which is located at 515 W Moreland Blvd Room AC130, according to a news release.

If the public cannot attend the hearing, they are encouraged to submit comments on the budget by emailing: [email protected] Comments received will be distributed to the County Board of Supervisors.

County Board Supervisors have until November 4 to propose amendments to the budget. The budget is adopted at the board’s November 10 meeting.

If the Waukesha County 2021 budget is approved, the tax rate will drop to the lowest level since 2009.

Waukesha County Executive Paul Farrow announced his 2021 executive budget to the Waukesha County Board of Supervisors in late September.

The budget invests in public safety and economic development while falling under the state levy cap and cutting the county tax rate for the seventh consecutive year. The Board of Supervisors is expected to pass the final budget in November, according to a news release.

“Our history of conservative budget practices and AAA bond rating has allowed us to weather the COVID-19 storm with little change to revenue,” Farrow said in a previous news release. “This budget supports Waukesha County’s goals of creating a safe, economically vibrant community for residents while keeping taxes low. More than half of new tax levy will go toward public safety. Infrastructure projects geared toward long-term safety, efficiency and economic development are also heavily supported.”

If the budget is passed as-is, the tax rate will drop from $1.82 to $1.76 per thousand dollars of home value, the lowest since 2009.

The 2021 budget allocates a large portion to public safety, including $600,000 in new

By Swati Bhat

MUMBAI, Oct 9 (Reuters)The Reserve Bank of India assured bond markets on Friday that it stands ready to take whatever measures are necessary to ensure adequate liquidity in the banking system, sparking a sharp rally.

The RBI said it will conduct on-tap long-term repo operations, open market purchases of bonds and special open market operations (S-OMOs), and also provide the increased held-to-maturity limit to banks until March 2022 versus March 2021.

“For the bond market, this is like an early Diwali and just as the March policy (decision) was termed a bazooka, there is enough today to light up some fireworks,” said Arvind Chari, head of fixed income and alternatives at Quantum Advisors, referring to the Hindu festival of lights which falls next month.

The benchmark 10-year bond yield IN057730G=CC dropped as much as 10 basis points to 5.92% on Friday. The measures were announced alongside a monetary policy committee decision.

The MPC kept rates on hold as predicted while keeping policy stance accommodative to help pull the coronavirus-ravaged economy out of its worst slump in four decades.

Bond markets have been stressed in recent months by the government’s record 12 trillion rupee ($164.16 billion) borrowing program and higher borrowing requirements by states.

“In order to impart liquidity to state development loans (SDLs) and thereby facilitate efficient pricing, it has been decided to conduct OMOs in SDLs as a special case during the current financial year,” RBI Governor Shaktikanta Das said, adding these and other measures should ease fears about illiquidity.

Market participants had complained of a lack of clarity on what measures the RBI would take, amid fears the government could further increase borrowing in the last quarter if revenues remained weak.

“We look forward to cooperative solutions for the borrowing programme for

By Chen Lin and Aradhana Aravindan

SINGAPORE (Reuters) – Singapore’s economic decline is expected to have slowed significantly in the third quarter as the city-state loosened coronavirus curbs, giving the central bank room to keep monetary settings unchanged when it meets next week.

Gross domestic product (GDP) is expected to contract 6.8% from the same period a year earlier, according to the median forecast of 11 economists in a Reuters poll, marking the third straight quarter of decline. The economy had shrunk 13.2% in April-June – its worst performance on record as the country went into lockdown.

GDP may jump 35.3% on a quarter-on-quarter seasonally adjusted and annualised basis in July-September, the poll showed, picking up from a 42.9% plunge in the second quarter.

“We expect a rebound from the second-quarter lows as economic activities partially resumed from June, although some restrictions remain,” said Jeff Ng, senior treasury strategist at HL Bank.

All 14 economists polled by Reuters forecast the Monetary Authority of Singapore (MAS) will keep its exchange-rate based policy on hold at its review on Oct. 14. However, while economists say the worst is over for the economy, they expect the recovery to be sluggish, and see fiscal policy as the main driver of any rebound.

The MAS in March delivered its biggest easing move since the 2009 financial crisis, by flattening the band’s rate of increase and effectively shifting its centre lower.

The government has spent about S$100 billion ($73.47 billion), or 20% of its GDP, in virus-related relief to support households and businesses. Still, the small and open economy is officially expected to contract 5%-7% this year in its worst recession, while the unemployment rate in August touched its highest since the middle of 2004.

“We are recovering but so far still a partial recovery and

Australia’s central bank kept monetary policy unchanged Tuesday, clearing the field for the government to unveil a fiscal blueprint designed to drive the economy’s recovery from a Covid-induced recession.

Reserve Bank Governor Philip Lowe kept both the key interest rate and three-year yield target unchanged at 0.25%, as expected. The labor market is a key focus for the bank, which is due to release fresh forecasts next month, he said.

“The Board views addressing the high rate of unemployment as an important national priority,” Lowe said in a statement. Policy settings will remain highly accommodative for as long as required and the bank “continues to consider how additional monetary easing could support jobs as the economy opens up further,” he said.

The RBA has been working in tandem with fiscal policy makers, pushing down the cost of borrowing to smooth the path for major spending programs. The government’s budget, due five hours after the rate decision, is expected to see a boost to infrastructure, the bringing forward of tax cuts and other measures to kick-start a recovery.

The RBA said labor market conditions have improved and the peak in the jobless rate could be lower than previously expected. Still, unemployment and underemployment were likely to remain high for an extended period.

The Australian dollar initially rose on the statement before falling back to be little changed at 71.94 U.S. cents at 3:31 p.m. in Sydney.

RBA said addressing high unemployment is a national priority

Economists expect the budget deficit will swell to A$220 billion ($158 billion), or 11.6% of gross domestic product, this fiscal year, and unemployment is forecast to rise to 8% by mid-2021 from the current 6.8%, according to the median estimate of a Bloomberg survey.

“Public sector balance sheets in Australia are in good shape, which allows for continued support, with the Australian Government budget to

DANBURY — In recognition of National Fire Safety Month, the city’s fire department and a local insurance agency will hold a drive-thru fire safety event this Thursday.

The event will take place outside State Farm Insurance agent Maria Ordonez’s office at 9 Padanaram Road from 3 to 5:30 p.m.

People of all ages are welcome to drive through the parking lot to receive important fire safety material, information, activities and “goodies” distributed right to their vehicles by members of the Danbury Fire Marshal’s Office and the Ordonez State Farm Insurance Team.

The event will be touchless and follow appropriate CDC guidelines and protocols, according to the fire department. All attendees must wear masks.

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