ECB's Crucial June Meeting, India Hikes, Trade Tussle: Eco Day
(Bloomberg) -- Good morning, Americas. Here’s news from Bloomberg Economics to help get your Wednesday started:
- The ECB could tell us as early as June 14 when it’ll likely be drawing down its extraordinary asset-purchase program
- In a speech Wednesday, Chief Economist Peter Praet confirmed that next week’s policy meeting will be pivotal for reaching a decision
- India’s central bank raised its benchmark interest rate for the first time since 2014 to curb rising price pressures and calm financial markets as policy tightening in the U.S. rattles emerging markets
- Elsewhere in central banking, the People’s Bank of China stepped up injections of cash to the financial system, while Polish rate setters kept borrowing costs unchanged
- Prime Minister Mahathir Mohamad announced the resignation of Malaysia’s central bank governor as questions swirled over the role the monetary authority played in a deal linked to scandal-plagued state fund 1MDB.
- The U.S. and China are continuing to haggle over the shape of a deal to fend off an impending trade war, with China offering to boost purchases of American goods and the U.S. finalizing a deal to allow China’s ZTE Corp. to resume purchases from American suppliers
- Meanwhile, Trump won’t quit Nafta, even if he wants separate trade deals with Canada and Mexico, White House economic adviser Larry Kudlow says
- The World Bank sees global growth gradually slowing through 2020 amid a global tightening cycle and fading U.S. stimulus; meanwhile, South American economies are taking a turn for the worse
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