Central Bank Unease, Jobless Standstill, Disaster State: Eco Day

Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week:

  • Central banks on four continents will project a collective message of nervous unease in interest-rate decisions this week as the persistence of the coronavirus impedes economic recoveries: World Economy Weekly Outlook
  • House Speaker Nancy Pelosi and White House negotiators remain far apart on a new relief plan to restore a $600-per-week jobless benefit. The plan could at best maintain U.S. household income at full force, or at worst knock out much of the expected rebound in third-quarter consumer spending
  • Australia’s Treasurer Josh Frydenberg said the economy faces another significant hit after Victoria extended a lockdown across the whole state and placed its capital Melbourne under a nighttime curfew. Meanwhile, central bank staff will be working around the clock to factor this into economic projections ahead of Tuesday’s policy meeting and Friday’s forecast publication
  • A walk down Orchard Road shows just how badly the coronavirus pandemic has hit Singapore’s famed shopping strip. Orchard Road’s malaise is a microcosm of the city-state’s pain
  • The final chance for more than half a decade to reshape the ECB’s inner sanctum of policy making will soon spark a tussle for influence between the region’s smaller countries
  • Local Government Secretary Robert Jenrick will announce a shake-up of the U.K.’s “outdated and cumbersome” planning rules this week, to accelerate home construction and spur vital infrastructure projects
  • Kerala, the southern Indian state with development indicators comparable to the first world, will invest in training and exporting health workers with the aim of capitalizing on their remittances, its Finance Minister Thomas Isaac said
  • The Philippines will put its capital Manila back on a stricter lockdown starting Tuesday as coronavirus cases surged more than fivefold
  • The father of modern supply chains is watching the biggest test of his invention with a sense of pride, some regret, and concern that drastic efforts to realign them will ultimately hurt consumers

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