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Global Tightening Doubts, Draghi Questions, Brexit Deal: Eco Day
Global Tightening Doubts, Draghi Questions, Brexit Deal: Eco Day
26 Nov 2018, 06:43 PM IST
(Bloomberg) -- Welcome to Monday, Americas. Here’s the latest news from Bloomberg Economics:
- The global economy headed into the final stretch of 2018 in weakened shape, leaving investors to question how much central banks will be able to tighten monetary policy next year
- That’s even as governments are doing the most to propel the world economy in a decade
- A key gauge of manufacturing health in Japan fell to its weakest level in two years, adding to warning signs that synchronized global growth may be coming to an end
- There’s better news ahead for emerging markets. A pause in the Federal Reserve’s interest rate hiking cycle, a weaker dollar and softer oil prices will ease external pressures
- Mario Draghi’s grilling by lawmakers on Monday is the highlight of a critical few days for the European Central Bank as it considers whether more stimulus is needed to overcome the euro-area slowdown
- Chief economist Peter Praet says the end of the bond-buying program this year doesn’t mean policy is being tightened
- Their comments come after German business sentiment soured amid sign of cooling foreign demand and rising trade tensions continued to drag on growth
- In Italy, Deputy Premier Matteo Salvini signaled a new openness to change the nation’s budget deficit target for next year
- Theresa May is trying to sell her Brexit agreement to skeptical politicians in Britain with a warning: "there is not a better deal available." EU leaders approved the plan and said it can’t be re-negotiated
- U.K. businesses stand to lose access to a $1.7 trillion public procurement market if signatories to a World Trade Organization accord this week block Britain’s application for membership, which will lapse after it leaves the EU in March
To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net
To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Joanna Ossinger
©2018 Bloomberg L.P.
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