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

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

©2020 Bloomberg L.P.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.