Dangerous Disinflation, Australia Oil Shock, Coronabond: Eco Day

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

  • The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades
  • Australia’s policy makers face a new challenge as they pump stimulus into a faltering economy: the Saudi Arabia-Russia clash that’s sent oil prices plummeting and belted the third-largest export Down Under
  • Spanish Prime Minister Pedro Sanchez took his appeal for European solidarity to Germany on Sunday and found some encouragement at the top of the ECB
  • Though it’s just a four-minute drive across the lagoon from Mar-a-Lago, President Donald Trump’s private club, Howley’s diner has become an emblem of America’s stark new economic reality
  • China’s credit data will shed further light on how much policy has started to support the coronavirus-stricken economy, writes Bloomberg Economics
  • Singapore will unveil its third stimulus package in less than two months for its virus-battered economy, providing additional support for businesses and households
  • BOE Governor Andrew Bailey rejected the idea of using monetary financing to help contain the economic impact of coronavirus. Meantime, U.K. consumer confidence saw the sharpest plunge on record
  • Economists agree Canada’s labor market suffered major damage in March, but the range of forecasts varies wildly
  • The Bank of Israel is set to ease monetary policy again although economists are split over how given interest rates are already close to zero
  • As China reopens, Africa’s woes threaten to starve its factories
  • Queen Elizabeth II urged Britons to adopt the same discipline and resolve that the U.K. showed during World War II

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