China Momentum, $3 Trillion Shot, Hungary Decision: Eco Day

(Bloomberg) -- Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• Data on Tuesday signal that China’s recovery is picking up momentum, setting up a strong 2021
• Positive news on vaccine development and roll-out is raising hopes for a revival of the global economy. In an optimistic scenario, the shots could provide a lift to world GDP of 3.7% ($3.2 trillion) next year, according to Bloomberg Economics’ analysis
• Hungary probably will keep its interest rate unchanged and look to other easing measures at the end of a spat with the EU and amid slowing inflation; see our decision guide
• The latest U.S. stimulus negotiations involve a split of contentious items from a core bill, in a bid to expedite passage before year-end; meanwhile, the U.S. economy is facing a tough winter ahead
• Brazil could lose its vote at the UN General Assembly if it doesn’t pay a minimum $113 million put of its larger total debt
• The Reserve Bank of Australia sees “reasonable momentum” but warned of uneven recovery and prolonged need for policy support
• The world’s policy makers must act urgently to head off a looming solvency crisis that could cripple economies after the pandemic, according to a report by former central bankers Mario Draghi and Raghuram Rajan

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