U.S. Stimulus, Jobless Europe Recovery, Aussie Blowout: Eco Day

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

• Talks on a new coronavirus stimulus package will start at the White House on Monday with Senate Majority Leader Mitch McConnell, Treasury Secretary Steven Mnuchin and others
• With job cuts mounting and costly furlough programs that can’t last forever, Europe is at risk of a devastating increase in unemployment
• Australia’s government will deliver an economic and fiscal update that’s set to show the biggest budget blowout since World War II, while a second wave of infections delays the pivot of stimulus toward the recovery
• The U.K. is about to test the risks of a wider confrontation with China that’s been a long time coming
• Thailand is replacing the top two officials steering the economy through its worst crisis ever, injecting uncertainty into the outlook
• EU efforts to agree on a 750 billion-euro ($856 billion) stimulus package ran into trouble late Sunday as leaders were unable to reconcile differences over how much of the recovery fund should be distributed through grants versus low-interest loans
• Home sellers across Britain are optimistic again after the government temporarily cut a tax on property
• The Turkish central bank’s former chief economist said the country’s interest rates should go no lower for now after a months-long easing cycle drove inflation-adjusted borrowing costs deep below zero
• Panic buying and lockdown-driven price increases pushed up food prices in major economies in sub-Saharan Africa, the world’s most food-insecure region
• Here’s why China’s new tax push has Mainland expats worried

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