China Alert, Central Bank House Trouble, ECB Guidance: Eco Day

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

  • China’s V-shaped economic rebound from the Covid-19 pandemic is slowing, sending a warning to the rest of the world about how durable their own recoveries will prove to be
  • Surging house prices across much of the globe are emerging as a key test for central banks’ ability to rein in their crisis support
  • ECB chief Christine Lagarde told investors to prepare for new guidance on monetary stimulus in 10 days, and signaled fresh measures might be brought in next year. Policy maker Francois Villeroy de Galhau signaled he’s in no rush to agree on new steps
  • BlackRock CEO Larry Fink told global leaders the World Bank and IMF are outdated and require a total overhaul in the new green era
  • Japan’s machinery orders jumped in May, even after the government reinstated tighter restrictions to control the virus
  • The shifting sands of global inflation will focus central bankers from Ottawa to Wellington in coming days. In “cut, hike, hold,” Bloomberg Economics previews central bank decisions across the globe
  • Global finance chiefs signaled alarm over threats that could derail a fragile recovery as they try to start reshaping the economic order
  • The PBOC isn’t taking any chances with the recovery -- the surprise 0.5 point cut to the required reserve ratio announced on Friday will inject 1 trillion yuan into the banking system, writes David Qu
  • Thailand risks fueling its decade-high unemployment rate and household debt with the imposition of lockdown-like measures
  • Bank Indonesia could begin tightening monetary policy next year
  • Treasury Secretary Janet Yellen began to put a timeline on when the Biden administration hopes Congress can take up two key portions of a global tax agreement. Economy Minister Martin Guzman said he had a “valuable” discussion with Yellen about Argentina’s IMF debt
  • The 36-year-old leader of South Korea’s biggest opposition party said his fellow millennials will push back against Chinese “cruelty”

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