ECB's Win, Trump Fed Warning, Australia's Perfect Storm: Eco Day

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

  • More Fed bashing. President Donald Trump urged the Federal Reserve not to proceed with an expected interest-rate increase when it meets next week, continuing his public campaign against further rate hikes
  • In a big week for the European Central Bank, a court ruled the ECB didn’t overstep its mandate by setting up a quantitative-easing program to stave off deflation
    • The biggest prize for bond investors when the ECB makes its final monetary policy decision of the year might be a clearer plan for its 2.6 trillion-euro asset-purchase portfolio
  • President Recep Tayyip Erdogan’s silence on interest rates is doing little to soothe market worry that Turkey’s central bank could act too soon to loosen policy
  • European Union leaders are set to mandate the design of a controversial budget for the euro area as part of a plan to shore up the common currency
  • India named a former bureaucrat who oversaw Prime Minister Narendra Modi’s controversial cash ban program as its new central bank chief. His predecessor, Urjit Patel, left with scarcely a whimper
  • The new RBI chief is an active user of Twitter, a sharp contrast to Patel who was publicity shy and rarely gave interviews
  • In the race to lure companies looking for alternative sites amid the U.S.-China trade war, Vietnam wields a slew of advantages over its rivals
  • Down under, Australia’s tumbling property prices could shave up to 1.2 percentage points from economic growth in 2019, according to AMP Capital Investors Ltd.

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