China Vow, BIS Message to Central Banks, BOE Speeches: Eco Day

(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help get your week started:

  • China and the European Union vowed to oppose trade protectionism in an apparent rebuke to the U.S., saying unilateral actions risked pushing the world into a recession
  • Meanwhile, China’s central bank will cut the amount of cash some lenders must hold as reserves, unlocking about 700 billion yuan ($108 billion) of liquidity
  • Central banks should accept that reversing crisis-era monetary policy will be “bumpy” and shouldn’t delay doing so just for fear of upsetting financial markets, according to the Bank for International Settlements
  • A flurry of speeches and public appearances mean investors will get a vision of the Bank of England’s past, present and future this week
    • Bloomberg Economics says it sees the BOE raising rates once this year, while U.K. unemployment is likely to below 4 percent
  • German business confidence resumed its decline in June as trade risks intensified and economic data remained mixed

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