Digital Currencies, Global Economy Warning, PBOC Taper: 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.

  • For central banks contemplating issuing a digital currency, there could be advantages to getting it done soon, according to a European Central Bank study
  • The leaders of France and Belgium urged the European Union to step up preparations for a no-deal Brexit at the end of the year in case negotiations with the U.K. fail to yield a last-minute breakthrough
  • Leaders of the global economy are warning that the recovery from recession is at risk and could be derailed by Covid-19’s resurgence
  • Hungary’s central bank is about to take its $2.5 billion asset-purchase program to the next level as it prepares to buy the bonds of a company owned by one of its entities
  • The top two U.S. economic policymakers have parted ways over whether to preserve emergency lending facilities designed to shore up the economy -- a rare moment of discord as the nation confronts the risk of a renewed downturn
  • China’s central bank remains on course to taper its emergency support even as a string of defaults by government-linked companies sends tremors through credit markets
  • President-elect Joe Biden said he has chosen a Treasury secretary, promising an announcement either next week or the week after
  • Two voting members of the Fed’s policy-setting body declined to endorse boosting monetary stimulus even as they voiced concerns the U.S. economy will suffer from the pandemic
  • Mexico won approval from the International Monetary Fund to maintain its flexible credit line at $63.4 billion amid the global pandemic, according to three people familiar with the talks
  • Stephanie Flanders brings together in her podcast former Fed Chair Janet Yellen, ex-BOE chief Mervyn King, former RBI Governor Raghuram Rajan and ex-U.S. Treasury Secretary Lawrence Summers to analyze the unprecedented economic response to Covid-19

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