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Swiss Currency, Javid’s Ambitions, China Cuts Tariffs: Eco Day

Swiss Currency, Javid’s Ambitions, China Cuts Tariffs: Eco Day

(Bloomberg) --


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

  • Switzerland is in danger of being labeled a currency manipulator by the Trump administration, a decade after it ran afoul of the U.S. over banking secrecy
  • Chancellor of the Exchequer Sajid Javid’s ambition to lift U.K. economic growth toward its post-war average of almost 3% a year is “quite unrealistic,” the country’s National Institute of Economic and Social Research said
  • China will halve tariffs on some $75 billion of imports from the U.S. later this month, reciprocating a U.S. action and likely satisfying part of the interim trade deal
  • An unexpected drop in German factory orders suggests Europe’s largest economy hasn’t yet seen the worst of its slowdown
  • The government of Italy, one of six European Union nations without a national minimum wage, has pledged to introduce one -- but so far the coalition’s two main parties haven’t made much progress
  • FX traders at Bank of America Corp. may have put too much faith in global central banks
  • The Bank of Russia may be gearing up for its sixth consecutive interest-rate cut Friday as inflation continues a slide well below a 4% target
  • India’s central bank left interest rates unchanged for a second straight meeting, while keeping the door open for more easing to support the economy when inflation eases
  • Central banks rather than giant tech companies are the preferred issuers of digital currency, a survey published by Omfif showed
  • Pope Francis staged a surprise visit to admonish the IMF chief and several finance ministers to help alleviate the debt burden of struggling countries, calling for “a new financial architecture” to ensure social justice

To contact the reporter on this story: Michael S. Arnold in Singapore at marnold48@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Michael S. Arnold

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