Fabio in Frankfurt, Powell’s Non-QE, Reversal Rates: Eco Day

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(Bloomberg) --

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

  • Fabio Panetta -- now the Bank of Italy’s no. 2 official -- looks set to replace Benoit Coeure as one of six European Central Bank Executive Board members
  • Former ECB Chief Economist Peter Praet appealed for calm in an increasingly bitter row over monetary policy that threatens to mar President Mario Draghi’s final weeks in office
  • Federal Reserve Chairman Jerome Powell said the central bank will resume purchases of Treasury securities in an effort to avoid a repeat of recent turmoil in money markets. Just don’t call it QE
  • Global central banks have room to further cut interest rates before they begin to do more harm than good, although the Fed is unlikely to push its benchmark below zero, say economists in a new survey
  • This was supposed to be the week U.S.-China trade talks got back on track. But that didn’t take long to change
  • Kristalina Georgieva, in her first major address as head of the International Monetary Fund, painted a downbeat picture of the world economy

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