China Cuts, IMF Descends on Bali, Nobel Prize Winners: Eco Day
(Bloomberg) -- Good morning Americas. Here’s the latest news from Bloomberg Economics to help get your week started:
- China’s central bank cut the amount of cash lenders must hold as reserves for the fourth time this year, as policy makers seek to shore up the faltering domestic economy
- As global finance chiefs prepare to meet this week in Bali for the annual IMF and World Bank meetings, they do so without the firepower of 2008 and with the era of coordination looking like an anomaly
- The IMF has signaled it will cut its global growth forecasts for the first time in two years, even as the U.S. expansion continues. Here’s why that boom isn’t enough to stop the rest of the world economy from slowing
- Still, not all is rosy in the U.S. The nation’s better-than-expected growth rates is set to dissipate unless productivity picks up, according to Federal Reserve Bank of St. Louis President James Bullard said.
- William D. Nordhaus of Yale University and Paul M. Romer of the Stern School of Business in New York have been awarded the 2018 Nobel Prize in Economics for their work on combining key questions surrounding climate change and innovation with economic growth
- Italy’s Deputy Prime Minister Luigi Di Maio shrugged off European Commission attacks on his government’s fiscal plan and said his anti-austerity view will grow stronger across the continent
- The U.K. government is taking a leaf out of the opposition’s playbook and looking to the Bank of England to help solve the nation’s productivity puzzle
- The U.K.’s painful pay squeeze in the aftermath of the financial crisis helped save 800,000 jobs, according to new research from the Resolution Foundation
- Serbia’s central bank held interest rates at a record low for a sixth month as investors’ attention turns to signs showing that the five-year push to cut borrowing has run its course
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