Lagarde’s Stimulus, China Slowing, Variant Threats: Eco Day

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

  • European Central Bank President Christine Lagarde said in a Bloomberg Television interview that investors should prepare for new guidance on monetary stimulus in 10 days, hinting that fresh support measures might be brought in next year; meanwhile, ECB official Villeroy signaled no urgency to settle such post-crisis stimulus
  • China’s weakening V-shaped recovery is a warning to the global economy
  • Russia is considering longer-term measures to grab a bigger slice of mining companies’ profits once a temporary export tax finishes at the end of this year
  • Britain’s household wealth surged 900 billion pounds during the pandemic, and much of that went to the richest people
  • Japan’s machinery orders soared in May, a third straight monthly gain, even after the government tightened restrictions to control the virus
  • Bank Indonesia could begin tightening monetary policy from next year, Governor Perry Warjiyo told Bloomberg Television; elsewhere in the region, Thailand risks fueling its decade-high unemployment rate and household debt with fresh lockdown-like measures
  • Global finance chiefs gathering at the G-20 are eyeing pockets of virus variants that threaten a fragile global rebound, and central bankers are faced with a dilemma amid booming housing prices
  • The Federal Reserve’s inflation disquiet is still sending ripples worldwide; read more in about the week ahead in the global economy in Eco Week

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