Patient Powell, China Pickup Signs, BOE Readies Buffers: Eco Day

(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• Fed chief Jerome Powell said a healthy U.S. economy has faced some “crosscurrents and conflicting signals” that warranted a patient approach to policy. His testimony also provided further hints about developments that could end the pause, says Carl Riccadonna
• China’s economy is showing the first signs of recovery after months of slowdown; meantime, the central bank reiterated its plans to boost credit to smaller companies to help revive the economy
• The Bank of England stepped up its defenses against a disruptive Brexit and Governor Mark Carney offered more warnings about the damage that a no-deal EU withdrawal could do to the economy
• The Bank of Japan may resort to its least preferred tool to expand stimulus next time the yen jumps: more government bond purchases
• One of the most influential ECB policy makers-to be is confident that current stimulus will be enough to guide the euro area through what he considers “limited” downward revisions to the outlook
• A sharp rebound in U.S. builders sentiment suggests housing activity will recover in the (northern hemisphere) spring, says Yelena Shulyatyeva. Meantime, consumer confidence improved in February, topping all forecasts and snapping a three-month losing streak
• President Donald Trump arrived in Hanoi for a second summit with Kim Jong Un with the White House setting low ambitions for the talks

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Chris Bourke

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