ECB Inflation Goal, Life After Sub-Zero, U.K. GDP: Eco Day

(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world threatened by trade wars. Sign up here. 

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

• The European Central Bank has set out an ambitious timetable for its strategic review that could see a decision on whether to change its inflation goal by the summer
• True believers in the return of global inflation have started 2020 with renewed hope, and the scorn that goes with it
• Riksbank officials are finding out that ending negative interest rates is far easier than convincing people the policy will stick
• A mixed picture for U.K. retailers emerged in surveys published Tuesday, calling into question the strength of the economic bounce since Prime Minister Boris Johnson’s election victory
  • It’s U.K. GDP day -- here’s what to expect
• President Donald Trump released his annual budget Monday that would push gross federal debt above $30 trillion over the next decade
  • The budget assumes economic growth above 3% this year, exceeding mainstream forecasts and other key authorities in Washington
• Chinese policy makers will likely roll out more measures to support the economy amid the impact of closures to fight the spread of coronavirus, though the emphasis still lies on not overdoing it
• Bloomberg Economics takes a look at how SARS was covered back in 2003
• Canadian Finance Minister Bill Morneau warned the spread of coronavirus is likely to have a “real” impact on Canada’s economy given far-reaching, global knock-on effects
• Thomas Piketty’s latest book “Capital and Ideology” will see the English translation published in March. The author sits down with Bloomberg’s Stephanie Flanders in a sneak preview
• New Zealand central bank Governor Adrian Orr may signal he’s prepared to cut interest rates again to cushion the economic impact of coronavirus, while keeping policy unchanged at Wednesday’s meeting
• On trade, the Trump administration is changing a key exemption to America’s trade-remedy laws to make it easier to penalize about two dozen so-called developing countries including China, India and South Africa

To contact the reporter on this story: Enda Curran in hong kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, Karthikeyan Sundaram, Pradeep Kurup

©2020 Bloomberg L.P.