Turkey Travail, New China Policy Makers, Week for Hawks: Eco Day

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

  • For Turkey’s central bankers it’s cut and you lose the lira, hike and you lose your job, writes Ziad Daoud. The lira plunged as much as 15% following President Recep Tayyip Erdogan’s shock decision
  • China appointed two new members to the central bank’s monetary policy committee, just as authorities begin shifting their focus away from stimulus and toward curbing financial risks in the economy
  • The tide is turning for emerging-market central banks as most are becoming more hawkish in 2021, according to Bloomberg Economics
  • U.S. and Chinese officials traded acrimony and accusation in Alaska that both sides hope will clear the air. Now the real work begins
  • Former Treasury Secretary Lawrence Summers said that the U.S. is facing the “least responsible” macroeconomic policy in four decades
  • The U.S. economy is set for a strong 2021 that will push up prices, but there’s no sign yet that this will deliver unwanted inflation
  • The British economy’s worst moments are hopefully behind it, and hints of that thesis coming true might emerge in reports this week
  • The EU’s path to joint fiscal stimulus is looking less assured than its monetary guardians would like
  • The rise of Bitcoin, Diem, and other vehicles for electronic payment has accelerated central bank moves to create their own digital currencies, writes Johanna Jeansson
  • South Korea’s defense minister signaled that he may strengthen military cooperation with rival Japan to boost regional security

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