ECB Considers Helping Some Banks, Beijing Talks Wrap: Eco Day

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

• The ECB’s chief economist says there needs to be a solid monetary-policy case before officials act to mitigate side effects of negative rates on banks. Indeed, Mario Draghi’s suggestion to go easy on lenders has splintered policy makers
  • Francois Villeroy de Galhau has notched up an intellectual victory at the ECB just when his credentials for higher office could do with being noticed
• As talks wrap up for this week in Beijing, Larry Kudlow says the Donald Trump administration is prepared to keep negotiating with China for weeks or even months to reach a deal that will ensure improved market access and intellectual-property policies for U.S. companies. China’s negotiators travel to Washington next week
• Ahead of a decision on the rollout of Japan’s 5G networks due next month, China warned Japan not to exclude its companies such as Huawei Technologies Co. and ZTE Corp.
• New York Fed chief John Williams downplayed recession fears even as economic growth cooled by more than initially reported last quarter. That signals a more significant slowdown in the first quarter, says Yelena Shulyatyeva
• Central banks in Latin America’s two biggest economies have a bit in common -- and may begin cutting interest rates simultaneously
• Turkey is trying to follow China’s playbook on the lira -- the problem is it only works if you’re a huge economy, explains Tom Orlik
• In 1966, four years before securing the Nobel Prize for economics, Paul Samuelson quipped that declines in U.S. stock prices had correctly predicted nine of the last five American recessions. His profession would kill for such accuracy
• Australia’s slumping property and stock markets have driven the biggest decline in household wealth in seven years. Meantime, a jumbo wager on an Australian rate cut has emerged again
• Here’s a look at what’s on the agenda in the week ahead, a summary of recent remarks by Fed policy makers and wrap of this week

To contact Bloomberg News staff for this story: James Mayger in Beijing at jmayger@bloomberg.net

To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, James Mayger, Karthikeyan Sundaram

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