Global Spending Plans, Lagarde’s Tasks, China’s Status: Eco Day

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

• The world’s top central banks are urging governments to put concerns about mounting debt aside for now and keep spending until the economic recovery from coronavirus is complete
• The International Monetary Fund warned that the world economy still faces an uneven recovery until the virus is tamed even as it offered a less-dire view of this year’s recession
• When Christine Lagarde became president of the European Central Bank, she had two tasks she wanted to accomplish: to reconcile the ECB’s fractious governing council and build bridges with the wider public through improved communication. One year on, she’s managed to achieve only one of those goals
• Buyers of mansions and penthouse apartments in London are finding bargains hard to come by
• U.K. Chancellor of the Exchequer Rishi Sunak could free the poorest nations to fight the coronavirus pandemic by protecting them from “unscrupulous” private creditors, the opposition Labour Party said
• China is cementing its status as the world’s dominant trading nation, confounding warnings that a once-in-a-century pandemic combined with simmering tensions with the U.S. would derail that status
• Singapore’s central bank signaled it would keep monetary policy unchanged for longer to complement a massive fiscal stimulus supporting the economy’s recovery
• Bank of Korea Governor Lee Ju-yeol said it wasn’t time to consider full-scale quantitative easing to help the economy, but added that the central bank would maintain its support for the economy until it is back on a growth path
• Argentina’s government is not going to devalue the peso, President Alberto Fernandez said Tuesday night amid widespread speculation on the issue

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