ADVERTISEMENT

EU Pandemic Funds, U.K. Youth Hit, Central Bank Shift: Eco Day

EU Pandemic Funds, U.K. Youth Hit, Central Bank Shift: Eco Day

Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • As the European Union seeks to disburse funds from its pandemic-recovery program, some of the hardest-hit countries are struggling to work out how to keep their finances in check once they take on billions of euros of new loans
  • British young people and minorities whose jobs were spared by the wage subsidy program in the spring are now being laid off
  • Central banks in Canada, the Eurozone, Japan and Australia are set to consider policy shifts. Bloomberg Economics surveys the scene
  • The race to fill a role at the heart of world economic policy making is turning into a new battleground for the future of globalization
  • The head of Turkey’s central bank is expected to revise inflation forecasts upward after a series of surprise interest-rate decisions failed to bolster the lira
  • Online Christmas shopping may surpass store sales in Britain for the first time as the pandemic reshapes retail. In the U.S., warehouse operators are rushing to hire workers amid the boom in online sales, a bright spot for the beleaguered labor market
  • The Bank of Canada has made a long-term commitment to keep interest rates low, and will use today’s policy decision to reinforce that message
  • China’s economic recovery displayed mixed signals while remaining broadly steady in October, with small businesses turning more cautious and the property market weakening even as car sales soar
  • President Donald Trump and aides appeared resigned to waiting until after the election to get a coronavirus stimulus package
  • U.S. consumer confidence unexpectedly pulled back in October as Americans became more concerned about employment prospects
  • South Africa’s finance minister will have to balance finding money to help Africa’s most-industrialized economy recover from recession, bail out state-owned companies and fund civil servants’ pay increases with pledges to rein in government debt and shrink the budget deficit
  • The economy of Iraq, the world’s third-biggest oil exporter, is cratering after the pandemic sapped global demand for energy

©2020 Bloomberg L.P.