Sintra Chatter, Tightening Policy Moves, EM Stresses: Eco Day

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

• As global central bankers converge on the Portuguese town of Sintra this week, Reserve Bank of Australia chief Philip Lowe is among those most haunted by the wage growth puzzle
• Tightening cycle. The Philippines is expected to raise its interest rate Wednesday afternoon in Manila and Norway is set to lay the path Thursday to raise interest rates for the first time in seven years, after Hungary on Tuesday signaled the eventual end of monetary easing
• Growth games. Economists see the fresh Trump tariff threats as powerful enough to knock half a percentage point off China’s economic growth, and the U.S. economy’s close-to-a-peak pace is also at risk
• Other trade news. China’s central bank is ready to use a basket of tools amid a trade-war sell-off, and Xi Jinping can squeeze American businesses, while Canada’s Justin Trudeau has billions of reasons to dig in on dairy battles with the U.S.
• EM stress. Emerging economies’ stocks and currencies took another hit in the latest trade battle, and Indonesia is bracing for impact after a market holiday. Finance Minister Sri Mulyani Indrawati tells Bloomberg Television about broader EM struggles
• Lunchtime read. Ex-Wall Street trader Luis Caputo is in the awkward position of leading Argentina’s central bank just eight months after predicting the country would prove a star among EMs for the next two decades

To contact the reporter on this story: Michelle Jamrisko in Singapore at mjamrisko@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Henry Hoenig

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