ECB’s Criticism, Yellen for Treasury, Italy’s Deficit: Eco Day

(Bloomberg) -- Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

• European Central Bank policy maker Olli Rehn criticized the political standoff over the region’s pandemic recovery plans, amid mounting concern that central bankers will again be forced to bear the brunt of supporting the economy
• The surging coronavirus is stoking fears of a fresh downturn for the world economy, heaping pressure on central banks and governments to lay aside other concerns and do more to spur demand
• Prime Minister Boris Johnson confirmed England’s national lockdown will end next week, to be replaced by a tougher three-tier system of regional restrictions designed to last until spring next year
• The U.K. is considering a ban on the installation of Huawei Technologies Co. 5G equipment as soon as next year to appease lawmakers pushing for tighter restrictions on the Chinese telecom equipment maker, according to people familiar with the matter
• The Italian government expects the budget deficit to stand at 10.4% of gross domestic product at the end of the year, according to a report seen by Bloomberg News
• President-elect Joe Biden plans to nominate former Fed Chair Janet Yellen to serve as his Treasury Secretary
• Millions of Americans expect to face eviction by the end of this year, adding to the suffering inflicted by the coronavirus pandemic raging across the U.S.
• A surge in gold exports from Russia this year has supported the ruble, partially offsetting a more than 18% slump due to lower oil prices : Chart

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