Virus Policy Toolkit, U.K. Budget, China Trade Data: Eco Day

(Bloomberg) --

Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day and send you into the weekend:

• Central banks worldwide are looking beyond interest-rate cuts to combat the coronavirus; ECB watchers are split on their chief’s response and here’s a look at what we’ve learned in the past few days on the virus-stricken global economy
• U.K. Prime Minister Boris Johnson might be ready to go after the “staggeringly rich,” but tax breaks are a tricky budget target
• Virus victims in the U.S. economy could include the Fed’s fight to lift inflation and the labor market, which in Friday’s payrolls report might yet escape any impact from the outbreak
• China’s trade figures set for weekend release should show how much the virus has overtaken the trade war in slamming exports, Bloomberg Economics analysis shows
• Even before the virus hit, Japan’s household spending kept dropping
• Bank of Canada’s chief said the decision to slash interest rates Wednesday was needed as a confidence-boosting measure
• Inflation in Russia may be about to ease toward the lowest level in post-Soviet history, increasing the likelihood of a seventh consecutive interest rate cut later this month
• Here’s a look at what governments worldwide have pledged in stimulus to combat effects of the coronavirus on their economies, including a $7.8 billion U.S. package that’s been sent for the president’s signature

To contact the reporter on this story: Michelle Jamrisko in Singapore at mjamrisko@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Jiyeun Lee

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