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ECB’s No Limits, French Statistics, Japan’s Spending: Eco Day

ECB’s No Limits, French Statistics, Japan’s Spending: Eco Day

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

  • Christine Lagarde was barely four months into the European Central Bank presidency when she sat down at her dining room table, two iPads and two phones at hand, and prepared to tell her colleagues it was time to unleash massive stimulus or face an existential crisis
  • As France’s statistics agency prepared its routine economic analysis in early March, Director Jean-Luc Tavernier decided it was time to attempt something more radical
  • Japan is assembling an extra budget worth 16.8 trillion yen ($154 billion) to fund a record stimulus package aimed at shielding the economy from the widening fallout of the coronavirus
  • Australia’s central bank kept its interest rate and yield target unchanged
  • New Zealand’s central bank increased the size and scope of its quantitative easing and signaled a willingness to do so again if needed
  • The International Monetary Fund may launch a new program to help address the global shortage of dollars, providing a backup to the Federal Reserve’s campaign to keep greenbacks flowing around the world economy
  • The Fed said it will create a program to speed the flow of funds to small companies through the government’s coronavirus stimulus

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