China’s Target, Powell’s Caution, Trump’s Tariffs: Eco Day

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Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • China set a conservative economic growth target of above 6% for the year, well below what economists forecast, and outlined ongoing fiscal support to keep the recovery going
  • Fed Chair Jerome Powell sounded a gentle word of caution to the bond market that he’s watching the jump higher in long-term interest rates, but stopped well short of trying to rein them in
  • Governor Haruhiko Kuroda said it is neither appropriate nor necessary to widen the movement range around the Bank of Japan’s 10-year yield target
  • The European Central Bank will step up its pace of emergency asset purchases to counter rising bond yields that risk hurting growth prospects in the euro area, according to economists
  • Tariffs that Donald Trump placed on foreign steel and aluminum have been “effective,” President Joe Biden’s commerce secretary said

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