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BOE’s New Weapon, Russia Rate Decision, WTO Top Job: Eco Day

BOE’s New Weapon, Russia Rate Decision, WTO Top Job: Eco Day

Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • The Bank of England’s preparations for the aftermath of a potentially messy Brexit could include a new weapon, with policy makers giving the strongest signal yet that they’re considering using negative interest rates
    • The U.K. government said a round of informal EU trade talks this week were “useful,” as European Commission President Ursula von der Leyen told media she’s “convinced” a deal is possible
    • U.K. retail sales extended their recovery in August as a government initiative to boost the hospitality industry lured locked-down Britons out to the shops
  • It’s rate decision day in Russia, here’s what to expect
  • Poland’s central bank still seems on a crisis footing, even as it declares the economic storm triggered by Covid-19 is “behind us”
  • India’s economic recovery prospects have gone from bad to worse after the nation emerged as a new global hotspot for the coronavirus pandemic
  • The World Trade Organization is set to announce on Friday the departure of three candidates in the race to lead the trade body
  • Argentina’s latest crackdown on dollar purchases exposed a split between the nation’s top policy makers as they struggle to find a way back from the deepest crash on record
  • Hong Kong’s government is drawing fresh criticism from economists and business advocates who say a third round of virus relief stimulus doesn’t go far enough
  • Pressure is on in the U.S. too, with some Democrats urging Speaker Nancy Pelosi to bring a new coronavirus relief bill up for a vote
  • The worst shipping crisis in decades is putting lives and trade at risk

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