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Fed Inches Toward Cut, ECB Gathering, Trade Deadlock: Eco Day

Fed Inches Toward Cut, ECB Gathering, Trade Deadlock: Eco Day

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

  • The Federal Reserve is inching toward an interest rate cut, as Chairman Jerome Powell signaled an openness to cut interest rates if necessary
  • ECB policy makers are in Vilnius to plot a course out of the euro area’s rough patch
  • Global central banks are resuming their first-responder role as the world economy runs into trouble, and European Central Bank policy makers are gathering in Lithuania on Wednesday with stimulus on their minds
  • Anyone vying to take Mark Carney’s place as Governor of the Bank of England is running out of time to submit their application.
  • U.S. Treasury Secretary Steven Mnuchin this weekend will have his first chance to break an impasse in a deepening trade war with China -- if officials from the two countries decide they want to jump-start talks at an international summit in Japan
  • Donald Trump is in London this week partly to advance a potential future trade deal with the U.K. that he promised will be concluded quickly after the country leaves the EU. Here are some reasons why that may be hard to do
  • South African Finance Minister Tito Mboweni backed the central bank’s existing mandate of targeting inflation only hours after the ruling party’s top decision-making body called on the government to expand the remit to include economic growth and job creation.

To contact Bloomberg News staff for this story: Xiaoqing Pi in Beijing at xpi1@bloomberg.net

To contact the editor responsible for this story: Jeffrey Black at jblack25@bloomberg.net

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With assistance from Bloomberg