ECB Decision Day, Lockdown Easings, Japan Budget Hole: Eco Day

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

  • The European Central Bank is set to decide today whether even bolder rescue action is needed; Germany has agreed on a $146 billion package to help revive the continent’s biggest economy
  • With virus contagion rates under control, Europe is set for more lockdown-easing measures to recharge economies; reopening restaurants would only be a mild salve for Spain and Greece
  • Japan’s already mammoth spending, including trillions of dollars in stimulus, likely requires a third extra budget to help plug a gaping hole spending and tax receipts
  • Lenders and businesses in the U.S. say confusing rules have hampered rescue efforts amid the pandemic
  • The Federal Reserve is expanding its municipal loan program to include smaller borrowers
  • Southeast Asia is aiming to revive its normally booming tourism industry, starting with appeals to local residents
  • Bloomberg Economics’ global GDP tracker shows output continued to fall in May, albeit at a slower pace than in April
  • U.K. car sales dropped 90% in May after lockdowns closed showrooms
  • Finally, don’t miss this week’s episode of the Stephanomics podcast

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