IMF Sentiment, Fed Rethink, Poloz Abandons BOC Bias: Eco Day

(Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes.

Welcome to Monday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Global finance chiefs ended talks in Washington mixing concern toward the current state of the world economy with confidence that it will soon rebound
  • Much of the main worry center around U.S. trade policy as an economic drag
  • But the U.S. is open to facing “repercussions” if it doesn’t live up to its commitments in a potential trade deal with China, potentially signalling that the two sides are edging closer to an accord
• The Federal Reserve’s policy rethink began as an inquest into what went wrong. Now it may include the part the central bank thought it had gotten right -- jobs
  • Trump, renewing his attack on the Fed, claimed the stock market would be “5000 to 10,000” points higher if not for the central bank
• Bank of Canada Governor Stephen Poloz indicated he’s all but abandoned any bias for higher interest rates
• Germany’s economic growth picked up only moderately last quarter and the underlying pace of expansion remains subdued, the Bundesbank warned
• China’s economy will draw the eyes of investors this week amid hope that its expansion has stabilized
  • The People’s Bank of China said it’ll keep good control of the money supply “floodgate,” while reaffirming a commitment to sufficient liquidity
• In Sweden, austerity is riling a population baffled by years of fiscal vigilance
• Finland’s elections failed to provide an edge to either of the country’s candidates to succeed Mario Draghi as European Central Bank president
• Dubai’s $108 billion economy is still eking out growth, but distress is increasingly felt far beyond its bellwether property industry
• Meantime, Argentina’s wine industry is riding out the country’s recession on a rise in tourism and exports stemming in part from a cheaper currency

To contact the reporter on this story: Lucy Meakin in London at lmeakin1@bloomberg.net

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss

©2019 Bloomberg L.P.