Star-Studded Sintra Panel, Policy Tightening, BOE Remit: Eco Day
(Bloomberg) -- Good morning Americas. Here’s news and analysis from Bloomberg Economics to help get your Wednesday started:
- Global central bankers are meeting in Sintra this week for the ECB’s annual forum. Bloomberg will be live blogging a highlight of the event later today, when European Central Bank President Mario Draghi, Bank of Japan Governor Haruhiko Kuroda, Reserve Bank of Australia Governor Philip Lowe and Federal Reserve Chairman Jerome Powell gather for a star-studded panel.
- Meanwhile, the European Central Bank’s choice of Portugal for its annual forum puts its officials in a nation that shows what can be achieved by cheap funding and a program of economic reform -- and the limits
- The meeting comes as central banks around the world are heading for tighter policy. The Philippines increased its benchmark interest rate for a second month on Wednesday, Norway is set to lay the path Thursday to raise interest rates for the first time in seven years, while Hungary on Tuesday signaled the eventual end of monetary easing
- 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
- The Bank of England’s remit should be overhauled to include a 3 percent target for productivity growth, according to a report commissioned by the U.K.’s opposition Labour Party
- The U.K. central bank is set to announce its latest decision tomorrow, with Bloomberg Economics predicting officials will be prepared to hold off hiking rates in order to wait for more evidence of a second-quarter rebound
- The BOE’s thesis was backed up by a report Wednesday showing U.K. manufacturing picked up in June as order books strengthened to their highest level in five months.
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