Merkel's Mutiny, New Fed Pick, Macron Warns on Trade: Eco Day
(Bloomberg) -- Good Wednesday morning, Europe. Here’s the latest news from Bloomberg Economics:
- French President Emmanuel Macron told the UN that trade pacts shouldn’t be signed with countries that don’t respect the 2015 Paris climate treaty, a thinly-veiled reference to the U.S.
- A mutiny in Berlin shows Chancellor Merkel’s star is waning even among her own party
- The White House’s latest pick for the Federal Reserve Board was deliberately chosen for her financial stability expertise and knowledge of the Fed system; meanwhile, traders now see the central bank potentially continuing to raise interest rates into 2020, as this chart shows
- The Philippines will continue to tighten and is ready to use all tools, including currency intervention, to contain high inflation and reduce peso volatility, its central bank deputy governor said. It’s also considering price controls on food stuffs
- Argentine Central Bank chief Luis Caputo resigned a day after President Mauricio Macri said a revised aid deal with the IMF would require a new approach to monetary policy
- Danske Bank A/S, Denmark’s biggest lender, has rarely made waves outside of the country. That changed when the bank revealed the scale of what may prove to be one of Europe’s biggest and most brazen cases of money laundering
- For the most hawkish central banks in Asia, their choice tomorrow is less about whether to raise rates than by how much
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