Climate Change, Lonely Lowe, Gender Diversity Lacking: Eco Day

(Bloomberg) --

Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day and week started:

• Four years after Bank of England Governor Mark Carney delivered a warning shot on climate change, most major central banks — with the exception of the Fed — are joining forces to promote sustainable growth
• Ultra-high net-worth individuals are raising their levels of cash as pessimism about the global economy spreads
• The Chinese government has given new waivers to several domestic state and private companies to buy U.S. soybeans without being subject to retaliatory tariffs
• Japan and the U.S. have finished talks on a trade deal with no indication yet on how the two sides responded to President Donald Trump’s threat to slap tariffs on the $50 billion in cars and parts shipped by Japan to the U.S. annually
• The Fed has made little progress in advancing gender diversity in the U.S. central bank system, a new report from the Brookings Institution found
• With Australia’s government focused on maintaining a budget surplus, RBA Governor Philip Lowe is left nearly alone to shoulder the burden of stimulating the economy
• Other central banks are easing policy amid a global slowdown, but Yi Gang pledges the People’s Bank of China will take a more prudent stance
• Fresh off last week’s 25-basis-point “hawkish cut” from the Fed, the president of the St. Louis Federal Reserve Bank says more easing may be needed

To contact the reporter on this story: Michael S. Arnold in Singapore at marnold48@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Michelle Jamrisko

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