ECB's New Favorite, RBA on Hold, Nigeria's Challenge: Eco Day

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

  • The race to succeed Mario Draghi as European Central Bank president has a new frontrunner -- France’s Francois Villeroy de Galhau has overtaken Finland’s Erkki Liikanen in Bloomberg’s latest survey of economists
  • President Donald Trump’s top trade negotiator said the U.S. plans to raise tariffs on Chinese goods on Friday, accusing Beijing of backpedaling on commitments. Tom Orlik explores what the threat means for the trade talks
  • U.S. interest rates are “in the right place” and don’t need to be lowered, although weak inflation merits close watching, according to Robert Kaplan, president and CEO of the Federal Reserve Bank of Dallas
  • Australian central bank chief Philip Lowe kept his head below the parapet by keeping interest rates unchanged less than two weeks out from an election, saying lower unemployment is needed to drive faster inflation
  • Bank of Canada Governor Stephen Poloz said he’s confident the nation’s housing sector will return to growth later this year, as markets like Toronto and Vancouver stabilize and the impact of new regulations is absorbed
  • In Nigeria, the next central bank governor will have to balance fighting inflation and propping up the currency against pressure to boost an economy that’s expanding slower than emerging-market peers

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