Europe’s Lonely Easing, China Credit, Copper Cartoon: Eco Day

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

• European Central Bank officials are facing a new phase of crisis response in which their ultra-loose monetary stimulus is increasingly rare as the rest of the world moves on
• Second-generation ethnic minorities in Britain have fared better in education but are less likely to be employed than white-majority counterparts, new research shows
• Japanese retail sales fell at a slower pace in May, signaling a potential bottom in consumer spending amid ongoing, sporadic virus restrictions
• Chinese retailers are tapping record-low credit as loans are hard to come by, Beige Book data show
• Bloomberg Economics continues to see emerging markets recovering at vastly different speeds, given disparities in virus containment, trade, commodities, capital flight and base effects
• Asia has lost some of its Covid-era luster in Bloomberg’s latest Covid Resilience Ranking as other parts of the world re-open faster
• May readings for gauges that signal changes in the policy stance of China’s central bankers tilted toward tapering stimulus, but marginally less so than a month earlier, Bloomberg Economics analysis shows
• A graphic novel shows how thieves stole $40 million of copper in Turkey by spray-painting rocks
• Mexico’s central bank said financial institutions aren’t allowed to trade or offer services based on cryptocurrencies such as Bitcoin, a day after billionaire Ricardo Salinas Pliego said his bank is on the way to accepting the virtual token
• Li Bo, who was appointed deputy governor of China’s central bank just two months ago, was nominated to the post of deputy managing director of the International Monetary Fund.

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