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.

To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Paul Jackson

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