BOE’s Restrained Tone, Mnuchin’s Dollar Fear, Bird Wing: Eco Day

(Bloomberg) -- Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get you through to the weekend:

• The Bank of England’s surprisingly restrained tone on the economy hasn’t gone down well with investors. The central bank is increasingly worried that British job losses will turn out worse than expected and threaten the recovery
• There’s a new shape in the lexicon economists use to describe the economic recovery from coronavirus: Bird wing
• John Bolton’s new book paints Treasury Secretary Steven Mnuchin as the chief opponent of the Trump administration’s reliance on economic sanctions, worried they’ll weaken the dollar’s global primacy
• Raphael Bostic, the first Black Fed president in the central bank’s 106-year history, has rarely talked about race in the three years he’s run the Atlanta Fed. But recent events changed that
• The Bank of England will remove portraits of former governors linked to the slave trade
• Brazilian policy makers left the door open to more monetary easing amid growing doubts that Latin America’s largest economy will recover quickly from the pandemic
• The biggest Nordic banks have voiced concerns over how Denmark’s debt office is handling sales of its shortest-dated securities
• Japan’s key inflation gauge continued to fall in May as coronavirus shutdowns froze economic activity and collapsing oil prices stoked concern over the return of deflation
• Saudi Arabia missed its $10 billion foreign direct investment target by more than half last year-- and now coronavirus and low oil prices threaten to throw its plans further off track
• Here’s a wrap of Bloomberg Economics’s insights and reacts across the world, including China’s 2020 growth tracking at 2.1%

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