Easy Does It for Central Banks, Trump-Xi Face Off: Eco Day

(Bloomberg) --

Good morning Americas. Here’s the latest news and analysis from Bloomberg Economics to help round off your week:

• The world’s central banks spent the week embracing easier monetary policy, paving the way to interest rate cuts perhaps as soon as next month.
• Meanwhile, here’s a look at how this year’s G-20 will be a face off between Trump and Chinese President Xi Jinping
• Europe’s economy showed signs of stabilizing at the end of the second quarter, but weak sentiment will keep policy makers on edge about the outlook for the rest of the year
• European Union leaders failed to agree on a series of high-level appointments, leaving investors in the dark over who will head the EU Commission and the European Central Bank going into next year
• Bank of England Governor Mark Carney has criticized a key Brexit plan backed by Boris Johnson, the front-runner to be Britain’s next prime minister
• Meanwhile, Carney’s embrace of the future of finance is setting the three-century-old BOE apart from policy makers around the world
• At the Swiss National Bank, a familiar foe has come back. Tension between the U.S. and Iran, trade protectionism, possible rate cuts by the ECB and the Fed, are all putting the franc on an appreciation course
• Japan’s key inflation gauge edged lower in May, adding pressure on BOJ to act. Bloomberg Economics’ Yuki Masujima says relatively weak consumption is a concern for the inflation outlook
• Norway’s central bank is on a lonely march toward higher interest rates, torn between an oil industry running at full speed on its home turf and slowing growth abroad

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