Trade Wars: Episode IV, Fed June Hike, Krugman EM Alert: Eco Day
(Bloomberg) -- Welcome to Thursday, Asia. Here’s news from Bloomberg Economics to help get your day started:
- Trade travails. The Trump administration is considering slapping tariffs on imported automobiles and the president is backing away from a trade agreement with China, under pressure from hawks. Meantime, here’s a rundown of pressure points ahead of Wilbur Ross’s Beijing trip
- Fed officials signaled they’re set to raise rates in June, but sent no clear message on whether they’d then hike one or two more times. Policy makers are calmly yet hesitantly addressing signs of firmer inflation
- Paul Krugman is joining economists and money managers from Carmen Reinhart to Mark Mobius warning of an emerging market meltdown
- Turkey’s central bank raised rates at an emergency meeting as President Erdogan bowed to pressure from financial markets after sparking a currency crisis. The move fails to address the underlying problem -- the direction in which Erdogan is taking the country
- Tough first day. When Perry Warjiyo is sworn in as Indonesia’s central bank governor he faces trial by fire as investors dump stocks and bonds
- Modi’s oil problem. India’s leader faces a budget dilemma from rising energy prices ahead of polls as Saudi Arabia presses for crude above $80
- Australia’s central bank chief Philip Lowe sought common ground with China as political tensions between the nations simmer, saying together they can be a force for an open global trading system
- The global economic rebound expected this quarter is failing to fire outside the U.S.
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