Stimulus Deadline, New Zealand Lessons, Recovery Fears: Eco Day

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

  • Nancy Pelosi set a Tuesday deadline for more progress with the White House on a fiscal stimulus deal, while President Donald Trump renewed his offer to go beyond the dollar amounts now on the table
  • Jacinda Ardern’s emphatic election victory is seen as an endorsement of an inclusive brand of leadership that may ripple beyond New Zealand’s borders
  • Global central bankers are under no illusion that they’re through the fallout from the coronavirus, issuing fresh warnings about new government restrictions, struggling recoveries and threats to jobs
  • China’s economic recovery from the depths plunged during the Covid-19 pandemic is providing support for a world economy suffering its deepest recession since the Great Depression
  • Some parts of the U.S. economy are coming back strongly while others are still struggling because of the coronavirus pandemic, said Federal Reserve Bank of Atlanta President Raphael Bostic
  • The Bank of Japan will keep policy steady at its meeting next week and extend the duration of its Covid response measures by January at the latest, according to surveyed economists
  • Bank of England Governor Andrew Bailey said the independence of central banks hasn’t been eroded by their coordination with governments to help economies through the coronavirus crisis
  • Australia’s government and business groups are calling on Victoria state to reopen the economy more quickly as Covid-19 cases decline, pointing to mounting job losses across retail and hospitality
  • New restrictions being rolled out across the euro area to curb the surge of infections will increase uncertainty for companies and families, European Central Bank President Christine Lagarde said
  • Prime Minister Giuseppe Conte held off pressure to impose radical restrictions on Italy, betting his government can slow the spread of the coronavirus and protect the economy with targeted measures
  • China is closing in on the U.S. as the most powerful country influencing the Asia-Pacific, as America’s handling of the Covid-19 pandemic tarnishes its reputation, a study showed

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