ECB’s Digital Euro Plans, U.K. Jobs, China GDP: Eco Day

Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • European Central Bank officials meet Wednesday to discuss reinventing the region’s money toward a digital euro
  • U.K. companies accelerated a hiring spree in June with the government preparing to further re-open the economy; government departments are looking to cut costs ahead of a review of post-pandemic spending
  • The U.K. trade chief downplayed the outlook for a trade deal with the U.S. soon
  • Inflation and a weak lira are likely to keep rates on hold in Turkey, where the central bank releases a decision Wednesday
  • Thursday’s Bank of Korea announcement is expected to offer more details on rate-hike timing; meanwhile, the economy added jobs for a fourth straight month in June amid ongoing recovery
  • New Zealand’s central bank will cease quantitative easing this month, putting it in the vanguard of developed economies that are normalizing policy. The Bank of Canada is expected to continue scaling back emergency levels of stimulus Wednesday amid growing optimism about the speed of the recovery
  • Climate proposals are gaining traction in the European Union, which is targeting the end of fossil fuels, and the Bank of Japan is set to offer more details on its climate proposals later this week
  • China’s second-quarter GDP report for Thursday will be watched for potential further signs of post-pandemic slowdown; Singapore’s report released Wednesday showed the economy contracting in 2Q from the previous three months amid renewed virus restrictions
  • Food shortages in South Africa continue to roil residents with street protests raging

©2021 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.