ECB Stimulus Outlook, Brexit Talks Hit Bump, U.S. Jobs: Eco Day
(Bloomberg) -- Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.
- The European Central Bank will extend two key stimulus programs through the end of next year to support the economy until vaccines are widely enough available to entrench the recovery, according to economists surveyed by Bloomberg
- European Union leaders are preparing to get around the threat posed by Poland and Hungary’s block of a multi-trillion dollar stimulus fund as Warsaw showed signs of cracking
- President-elect Joe Biden will have little alternative but to focus on a deal with Congress to enact more economic stimulus early next year
- Spain’s government is considering shortening working hours and cutting the work week to four days
- Brexit trade talks descended into a fight between the U.K. and France as the British government said prospects of an imminent deal had receded
- Applications for U.S. state unemployment benefits fell by the most in almost two months, offering some hope that the job market recovery will continue despite a spike in Covid-19 infections. Friday’s jobs report will probably show employment gains slowed only modestly in November
- The U.S. Senate confirmed Christopher Waller to serve on the Federal Reserve Board, but the status of President Donald Trump’s second nominee, Judy Shelton, remained in limbo
- Prime Minister Boris Johnson said the U.K. will examine its tax and regulatory environment as it tries to stimulate British business in the wake of the coronavirus pandemic. Meanwhile, the Treasury is getting almost 10 billion pounds ($13 billion) a year in interest on its own debt under the Bank of England’s bond-buying plan
- The U.S. and Ecuador will sign a preliminary agreement to formalize free-trade negotiations next week, Ecuador’s Trade and Production Minister Ivan Ontaneda said
- Japan’s government sees an urgent need to support the economy to prevent a slide back into deflation amid the pandemic, according to documents outlining a new stimulus package obtained by Bloomberg
- India’s central bank left interest rates unchanged for a third straight meeting amid stubbornly high inflation and signs of an economic revival
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