ECB Fresh Support, BOE in No Rush, Trade War Scars: Eco Day

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

• The European Central Bank is putting all the pieces in place for new support for the economy as policy makers debate how quickly they need to act in response
• Stand at ease. The Bank of England doesn’t need to rush to raise interest rates until the uncertainty of Brexit lifts, according to policy maker Michael Saunders
• Stand pat. Serbia’s central bank will probably leave borrowing costs unchanged, holding fire as rate setters await more guidance from the European Central Bank
• Turning hawkish. Robust U.S. economic data means the Federal Reserve may still end up raising interest rates even after Chair Jerome Powell’s signal that policy is on hold
• Hot and cold. Women and black workers win when the U.S. economy runs hot for a while, according to new research from Federal Reserve Bank of San Francisco President Mary Daly and co-authors. Meanwhile, the Fed’s Beige Book survey shows the U.S. economy has cooled so far this year. Bloomberg Economist Tim Mahedy says the survey points to another strong jobs report
• About time. A deal between the U.S. and China to drop tariffs couldn’t come soon enough for a global economy already showing strains from the trade war
• Vested interest. Chinese researchers are watching the U.K.’s impending exit from the European Union to see what kind of arrangements are put into place to allow regions with separate economic and regulatory policies to have an integrated financial market
• Hawkish hold. The Turkish central bank ticked all the right boxes on Wednesday and that still wasn’t enough to keep the lira’s doubters at bay

To contact the reporter on this story: Anirban Nag in Mumbai at anag8@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Karthikeyan Sundaram, Devidutta Tripathy

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