Draghi's Journey, BOJ Downgrade, Argentina Plunge: Eco Day

(Bloomberg) -- Happy Friday, Europe. Here’s news from Bloomberg Economics to help get your day started:

• Mario Draghi put the European Central Bank on the road to raising interest rates, though he may never get the chance to complete the journey himself
• Steady here. The Bank of Japan left monetary policy unchanged and downgraded its assessment of inflation, falling further behind its global peers at the end of a busy week for central banks
• Tariffs trouble. Bloomberg Economics sees the U.S.-China trade conflict likely entering a new and potentially damaging phase
• Worse to come. U.S. proposals to smack tariffs on $50 billion of Chinese imports are just the start, economists and China-watchers said as they await an impending announcement
• Elevated risks. Meanwhile, America’s tax cuts and public-spending hikes are increasing risks to the global economy by boosting debt, potentially stoking inflation and pushing the dollar higher, the International Monetary Fund warned
• New chief in town. Argentina’s central bank is getting a new chief after the monetary authority failed to stop the peso’s plunge despite obtaining the biggest loan in the history of the International Monetary Fund

To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Karthikeyan Sundaram, Ashutosh Joshi

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