Draghi's Last Retreat, Peaked Rates, India Tariffs: Eco Day

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

• The mood at the annual European Central Bank summer retreat -- Mario Draghi’s last -- is likely to be somewhat somber as policy makers weigh limp inflation and dark economic clouds ahead
• Big week. Bank of Japan and Federal Reserve meet this week as investors are betting global interest rates have peaked, with more central banks taking a turn for easier monetary policy
• Sea change. A majority of economists now see the Bank of Japan ramping up easing measures as its next policy move
• Lots of room. There’s reason to believe that Chinese policy makers do have the “tremendous room” for more easing that People’s Bank of China Governor Yi Gang cited earlier this month
• Trade woes. Add the U.S. Commerce secretary to skeptics of a breakthrough at any potential Trump-Xi meeting at the Group of 20 gathering in Osaka later this month; meanwhile, India has retaliated with increased tariffs against the U.S. on a rash of goods after the latter ended trade concessions
• City in conflict. While the economic implications aren’t yet as clear, Hong Kong protests continue to grab the world’s attention as thousands take to the streets after a controversial extradition bill was suspended; see photos in the Bloomberg slideshow

To contact the reporter on this story: Michelle Jamrisko in Singapore at mjamrisko@bloomberg.net

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

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