Draghi's Journey, BOJ Downgrade, Argentina Plunge: Eco Day

(Bloomberg) -- Happy Friday, Europe. Here’s news from Bloomberg Economics to help get your day started:

• Mario Draghi put the European Central Bank on the road to raising interest rates, though he may never get the chance to complete the journey himself
• Steady here. The Bank of Japan left monetary policy unchanged and downgraded its assessment of inflation, falling further behind its global peers at the end of a busy week for central banks
• Tariffs trouble. Bloomberg Economics sees the U.S.-China trade conflict likely entering a new and potentially damaging phase
• Worse to come. U.S. proposals to smack tariffs on $50 billion of Chinese imports are just the start, economists and China-watchers said as they await an impending announcement
• Elevated risks. Meanwhile, America’s tax cuts and public-spending hikes are increasing risks to the global economy by boosting debt, potentially stoking inflation and pushing the dollar higher, the International Monetary Fund warned
• New chief in town. Argentina’s central bank is getting a new chief after the monetary authority failed to stop the peso’s plunge despite obtaining the biggest loan in the history of the International Monetary Fund

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