Production of COVID vaccines is rapidly growing and expanding with more vaccine candidates in the pipeline. Vaccinations are administered in increasingly higher numbers with countries like the United Kingdom and United States among those with the highest vaccination rates so far. As restrictions are gradually  being loosened, the economic recovery is all but certain to take shape throughout the remainder of 2021 and to get into full swing in 2022.

After a negative September, global markets largely recovered in October, supported by encouraging corporate earnings and an easing of fears around China's property sector. Nonetheless energy prices continued to climb, adding continued upward pressure on inflation. Central banks however indicated they were prepared to withdraw monetary policy accommodation to counter the inflationary pressure and persisted elevated inflation is only transitory.