BOE Normality, Turkish Rates, Peru's Secret Tapes: Eco Day

(Bloomberg) -- Welcome to Tuesday, Europe. Here’s news from Bloomberg Economics to help get your day started:

• The Bank of England is about to try to put a number on normality. The central bank will provide an estimate of the Goldilocks interest rate for the first time when it announces its policy decision on Aug. 2
• Defending QE. BOE deputy governor Ben Broadbent launched a fresh defense of the bond-buying program the bank used when rates got close to zero
• Higher, faster. Bloomberg Economics expects the Central Bank of the Republic of Turkey to raise policy rates by 100 basis points today
• Chasing growth. China unveiled a package of policies to boost domestic demand as trade tensions threaten to worsen the nation’s economic slowdown, sending stocks higher
• Worrying development. Japan’s manufacturing sector lost steam in July as demand for exports weakened but economists reckon the BOJ will leave monetary policy unchanged at next week’s board meeting
• Holding them back. The latest threat to the rise of Peru’s $215 billion economy: another brewing crisis that starts with a secret tape.
• In case you missed it: Venezuela’s inflation will skyrocket to 1 million percent by the end of the year, the International Monetary Fund predicted on Monday

To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Karthikeyan Sundaram, Ashutosh Joshi

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