ECB’s Inflation Struggle, Fed’s Jobs Nightmare: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

• The European Central Bank made a stark admission last week as it announced a fresh round of policy measures -- even three years from now, it’ll still be well short of its inflation goal
  • The last of the ECB’s original Governing Council members is retiring
• The U.K. property boom still has legs, says Rightmove
• The Fed will start confronting the case for more stimulus to support the U.S. economy this week. Meantime, Jerome Powell is being compared to giants such as Paul Volcker in the Fed’s pantheon
• The trade talks between the U.K. and the EU took another somersault when Boris Johnson and Ursula von der Leyen gave negotiators another shot at closing a deal. The pound jumped
• Japan Inc.’s mood continued to improve this quarter as the domestic economy and global trade improves
• Australia’s retailers are preparing for a late-December spending splurge that could fuel the kind of recovery on the RBA’s wishlist
• As Covid-19 hit Seoul with full force, mime and circus artist Kim Chan-su started his “two-job” life -- as a courier and a circus clown
• Germany will enter a hard lockdown, with non-essential stores shuttered and employers urged to close workplaces
• The proposition is about as outlandish as it sounds: Everything we know about modern economics is wrong

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With assistance from Bloomberg