Swiss Dismiss U.S., BOJ to Extend Aid, Pay-Cut Pointer: Eco Day

Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • Switzerland renewed its pledge to use currency interventions to counter upward pressure on the franc just a day after being censured by the U.S. for the practice. The Swiss National Bank is, however, bowing to pressure from climate activists and will exclude more polluting companies from its huge investment portfolio
  • The BOJ is widely expected to extend its special funding measures for pandemic-hit businesses amid a resurgence of the coronavirus
  • The work-from-home boom is here to stay and likely to spark wage cuts; meantime Stephanie Flanders and Lucy Meakin discuss how Covid-19 is helping robots take your job faster in their Podcast
  • As relations steadily worsened between Beijing and Canberra, China has imposed a raft of trade measures blocking billions of dollars in Australian commodities to its biggest trading partner
  • Taiwan left interest rates unchanged, as expected, with focus shifting to the local dollar after the U.S. put it back onto a watch list
  • The U.S. is on the brink of much-needed pandemic relief in the vicinity of $900 billion. Andrew Husby says it’s the minimum required
  • An improving outlook for the world economy is one reason the euro has strengthened, ECB Executive Board member Isabel Schnabel says
  • Applications for U.S. state unemployment benefits unexpectedly jumped to the highest level in three months
  • The World Bank corrected two reports ranking nations by ease of doing business, adjusting scores for China and three others based on an internal audit following staffers’ allegations of pressure
  • Is it enough? Bloomberg Economics tracks stimulus measures
  • The WTO’s final general council meeting of year will mark the end of one of the most tumultuous periods in the trade body’s history
  • The BOE kept its monetary stimulus unchanged as it awaits the outcome of EU trade talks, while beefing up support for small firms
  • Central banks in Indonesia and the Philippines held their interest rates steady and pledged to keep policy accommodative
  • Here’s why Joe Biden wants to rethaw Cuba ties, but not too much
  • Just steps away from Seoul’s glitzy Gangnam district, residents who scavenge bottles are teaming up with landowners to demand more than $1 billion for the last remaining slum in South Korea’s capital

©2020 Bloomberg L.P.

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