ECB’s Alternatives, Bipartisan Meeting, Growth Stumble: Eco Day

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Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • ECB officials have asked staff to propose new ways to measure financial conditions in the euro area; that comes as President Christine Lagarde signaled that the euro-zone economy is headed for a double-dip recession
  • President Joe Biden’s top economic adviser plans to meet with a bipartisan group of lawmakers in coming days to discuss the administration’s Covid-19 relief plan amid widening GOP opposition
  • French Finance Minister Bruno Le Maire said he will seek to coordinate European and U.S. fiscal stimulus efforts in talks as soon as next week, indicating unease with Biden’s plans for a massive $1.9 trillion Covid-19 relief plan
  • Bloomberg Economics alternative data shows a growth stumble on fresh virus fear
  • Chancellor of the Exchequer Rishi Sunak will set out plans in his budget to start restoring order to the U.K.’s finances; meantime, almost 9 million people in Britain had to borrow more money by the end of last year to help them through the coronavirus crisis
  • Declines in Japan’s key inflation deepened in December as a resurgence of the coronavirus weighed on the economy and the Bank of Japan heads toward a March policy review; A separate report showed Japan’s service and factory activity weakened in January
  • New Zealand inflation was firmer than economists expected in the fourth quarter, adding to signs the central bank may not need to cut interest rates any further

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