Lagarde Testimony, Hong Kong Retail, Trump’s ‘Bad Cop’: Ecoday

(Bloomberg) --

Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your week started:

• When ECB chief Christine Lagarde is quizzed by European lawmakers today, her plans for the biggest reassessment of the institution’s mission in 16 years are likely to play a prominent role
• BOE Governor Mark Carney has accepted the role of special envoy for climate action and finances, UN chief Antonio Guterres said. Meantime, the EU intends to challenge the U.S. and China on climate-change targets
• The self-described “bad cop” of Trump administration economic policy wants to shake up the World Trade Organization
• Leaving the European Union with an “ambitious deal” on trade will unlock U.K. investment and lead to gradual improvement in growth, the Confederation of British Industry said
• Hong Kong’s retail sales took an “enormous” hit in October, the city’s finance secretary said, as the government expects to have a deficit this year for the first time in more than a decade
• The focus will be firmly on U.S. workers this week as the world’s biggest economy releases job numbers
• The world’s biggest natural gas exporter and one of the globe’s top consumers cement their energy cooperation with the launch of Russia’s giant Power of Siberia pipeline to northern China
• Zombie companies in China. Crippling student bills in America. Sky-high mortgages in Australia. Another default scare in Argentina. The solution to all these problems could be more debt
• China’s central bank governor sounded a cautious tone on the health of the global economy, while signaling that the nation’s monetary policy makers will refrain from large-scale easing
• Australia’s central bank chief opened up the prospect of two interest rate cuts -- rather than just one, as widely assumed -- when he set parameters for adopting unorthodox policy
• The Turkish economy likely continued its recovery in the third quarter as banks doling out credit supported growth and industrial output expanded

To contact Bloomberg News staff for this story: James Mayger in Beijing at jmayger@bloomberg.net

To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Michael S. Arnold

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