Yen in Demand, U.S.-China Talks Extend, Liang Withdraws: Eco Day

(Bloomberg) -- Welcome to Wednesday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

  • U.S.-China trade talks in Beijing are progressing and will extend into today, an American negotiator said. Chinese authorities plan to give a statement following the latest round of negotiations
  • There’s a good chance the yen will strengthen to 100 against the dollar in coming months as slowing global growth and U.S.-China trade tensions keep investors on edge, a former senior Bank of Japan official said
  • Former Federal Reserve economist Nellie Liang withdrew from consideration for a seat on the central bank’s board of governors, the White House said
  • The World Bank cut its forecast for the global economy as slowing growth in trade and investment and rising interest rates sapped momentum, especially in emerging markets
  • President Donald Trump renewed his complaints about Fed rate hikes, calling borrowing costs “rapidly raised” even though the pace has been markedly slower than in previous decades
  • Canada’s recent dip into an economic soft patch will keep the central bank from raising interest rates for a second straight decision today, with investors betting it may even be done with hiking altogether

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