ECB Meeting, Global Growth Threat, Draghi’s Plan: Eco Day

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

  • ECB President Christine Lagarde will be pressured to reveal how much longer the euro area will need intensified support on Thursday after the policy meeting
  • The renewed surge in Covid-19 infections is threatening to further divide the world economy between the rich and poor, potentially damaging overall global growth
  • Prime Minister Mario Draghi’s plan to reengineer Italy’s economy with EU money after the pandemic aims to achieve a maximum impact on growth
  • The Bank of England is set to open a northern hub and offer greater flexibility over where, when and how its staff work as it attempts to boost its presence around the U.K.
  • EU candidate Montenegro is seeking to expand ties with the bloc, including possibly refinancing a Chinese loan it took to build its first highway, which once threatened to wreck its public finances
  • Tokyo is seeking to reimpose a state of emergency to stem a worrying rise in coronavirus infections about three months before it hosts the Olympics
  • The Bank of Canada took the biggest step yet by a major economy to reduce emergency levels of monetary stimulus. The move may fuel debate on whether its Australian counterpart is certain to extend its yield-curve control and announce a fresh round of QE
  • China has slammed Australia’s decision to cancel agreements between the Belt and Road Initiative and the Victoria state government, signaling a worsening of ties between the nations
  • As the global economy rebounds and commodity prices hit multi-year highs, emerging-market investors are seeking refuge in the one area that offers protection from inflation concerns -- debt securities linked to the pace of inflation

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