No Stimulus End, Xi’s Speech, Putin’s Likely Response: 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.

  • The aggressive rebound in global economic growth still isn’t enough for most of the world’s central banks to pull back on their emergency stimulus, according to Bloomberg’s quarterly review of monetary policy
  • Chinese President Xi Jinping called for greater global economic integration and warned against decoupling while calling on the U.S. and its allies to avoid “bossing others around”
    • China’s Loan Prime Rates appear to be in a sweet spot for the authorities -- low enough to support growth, but not so low as to fuel risks from asset price bubbles, writes Bloomberg Economics’ David Qu
    • China’s economy is on track to return to trend growth after its V-shaped recovery from the coronavirus slump ended with a record pace of expansion last quarter, according to Goldman Sachs Group Inc.
  • Once the primary creditors to the developing world, Paris Club members now account for just over half of what China has lent. A new plan aims to bring China to the table
  • U.K. aerospace-industry trade lobby ADS warned that Britain could lose business to the European Union after the Brexit deal failed to resolve issues concerning design-approval for plane components
  • Japan needs to consider scrapping the Tokyo Olympics and speeding up its vaccine rollout amid growing virus infections, according to former Finance Minister Jun Azumi
  • Russian President Vladimir Putin is likely to respond to the latest round of U.S. sanctions threats as he has to past ones: by speeding his drive to make Russia’s economy more self-sufficient
  • The Reserve Bank of Australia said its policy settings were helping hold down the currency, while surging property prices meant it needed to monitor trends in home borrowing, according to minutes of its April meeting.

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