Splashy Euro Spenders, Swedish Laws, Ukraine Rates: Eco Day

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

  • For the euro area to jumpstart economic growth with a consumption boom, a whole generation of citizens who hoard money rather than spend it would need to splash out
  • In Sweden, a body created to monitor government efforts to fight climate change says the law that guides monetary policy needs a serious overhaul
  • Employers risk creating an unhealthy working culture in the post-pandemic world by embracing remote work without true flexibility, a survey led by King’s College London found
  • The European Central Bank could end its pandemic emergency program within less than a year, while adapting its tools to keep supporting the economy, French Governor Francois Villeroy de Galhau said
  • The ECB’s public consultations on a digital euro have revealed that privacy is valued above all other features for any new form of the currency
  • Ukraine is set to raise interest rates for a second straight month as concern over tensions with Russia compounds the need to address soaring inflation
  • The Fed will likely scale back its bond purchases before considering raising interest rates, Chairman Jerome Powell said. Meanwhile, the central bank sees labor and material shortages mounting across several sectors of the U.S. economy, which may leave consumers paying more for everything from fuel to new homes
  • Here’s what to watch for in China’s GDP report on Friday, which is expected to show the highest quarterly economic growth since the country began releasing such data 30 years ago. Meanwhile, central bank researchers said China should lift all birth restrictions to encourage families to have more babies, as the population is aging faster than in developed countries
  • Canadian Prime Minister Justin Trudeau is about to make a pitch for tens of billions of dollars in new spending after racking up one of the developed world’s largest deficits. There’s one problem: The economy doesn’t need it
  • Australia’s unemployment rate fell further in March -- even as labor-force participation surged to a record -- as strengthening sentiment and record-low interest rates accelerate the economy’s recovery. Still, Australia will likely find Covid-19 has a lingering effect on the economy, a former central bank board member said

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