Lagarde’s Isolation, U.K.’s Warning, India’s Rate Cut: Eco Day
(Bloomberg) -- Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend:
- European Central Bank President Christine Lagarde isolated herself last week following exposure to a person with the coronavirus, according to two people familiar with the matter
- The Bank of England said the economic fallout from the coronavirus pandemic risks becoming entrenched, with some companies already describing the current shock as being worse than the 2008 financial crisis
- The Reserve Bank of India cut interest rates and announced steps to boost liquidity in an unscheduled move, joining central banks around the world in scaling up stimulus
- Hungary is banking on a dose of optimism cushioning the economic damage from the coronavirus
- The virus shockwave is hitting China’s factories, with European and U.S. firms canceling orders and delaying payments as their economies all but grind to a halt
- Australia’s jobless rate could soar to 12% and the economy contract 5% in the second quarter -- and a further fall in the three months after that would bring the fastest decline in activity since World War II, according to National Australia Bank Ltd.
- How will the ongoing slump compare with previous downturns?
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