Brexit Trade Chaos, Trump Playbook, Turkey’s Gold Plan: Eco Day
(Bloomberg) -- Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.
- The U.K. and the European Union are heading for a chaotic split without a new trade deal as talks between the two sides frayed. Meanwhile, Japan is seeking to conclude months of talks on a broad post-Brexit trade deal with the U.K. later Friday
- Some European Central Bank officials wanted President Christine Lagarde to take a more optimistic view on the economy in her remarks following the Governing Council’s meeting Thursday, according to people familiar with the discussion.
- The recent appreciation of the euro dampens the inflation outlook and the ECB is ready to act if needed, chief economist Philip Lane said.
- Britain recorded strong growth in July as coronavirus restrictions eased, but mounting job losses and the risk of a messy Brexit are threatening a turbulent end to the year
- America’s economic rebound is about to get a lot tougher after an initial series of gains from the depths of the pandemic
- President Donald Trump is reviving his 2016 campaign playbook on attacking China, but running as the incumbent means defending a record of only limited success in rewriting the economic relationship with Beijing
- Turkey has a new plan to coax gold into its financial system after previous efforts barely made a dent in a so-called under-the-mattress stash valued at about 40% of gross domestic product
- Yoshihide Suga, the front-runner to become Japan’s next premier, appeared to backtrack from earlier comments about the sales tax, saying there is no need for another hike in the next decade
- Hong Kong’s long reign as the world’s freest economy is at risk due to China’s efforts to quell dissent, the Fraser Institute said, undercutting government arguments that the crackdown was improving the business climate
- The Bank of Canada plans to maintain extraordinary stimulus for as long as needed to help the nation’s economy fully recover from the crisis, Governor Tiff Macklem said
- Stronger-than-forecast retail and inflation data provided the latest evidence that Brazil’s economy is rebounding fast as businesses reopen and the government pumps billions of dollars in stimulus
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