Powell's Pause, BOE in Brexit Fog, Norway Set to Hike: Eco Day
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Welcome to Thursday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- Federal Reserve Chairman Jerome Powell said interest rates could be on hold for “some time” as global risks weigh on the economic outlook and inflation remains muted
- Rich Miller and Craig Torres argue that the Fed is on a mission to stoke price pressures and avoid a Japan-like deflationary trap
- It’s a busy day for central banks in Europe. Norway may hike, Switzerland is likely on hold, while the Bank of England is mired in Brexit fog
- In Asia, the Fed’s shift has opened the door for interest rate cuts as inflation remains subdued and economic growth slows
- President Donald Trump said he’ll keep tariffs on China until he’s sure Beijing is complying with any trade deal, refuting expectations that the two nations will agree to roll back duties
- Australian unemployment dropped to a decade-low in February, defying the worst housing slump in a generation that’s forced a sharp slowdown in economic growth
- New Zealand’s economy expanded at a faster pace in the fourth quarter
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