Turkey Decision, Surviving Lockdown, Negative Rates: Eco Day

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

  • Turkey’s new central bank governor gets an early chance today to act boldly on his market-friendly messaging, buoyed by the apparent blessing of President Recep Tayyip Erdogan
  • European small businesses that survived the first coronavirus lockdowns are getting creative to weather the second wave and the long-term fallout from the pandemic
    • The European Union is facing what looks like a grueling battle to persuade Hungary and Poland to row back threats endangering billions of euros of pandemic-relief and budget funds
  • Denmark’s central bank says its latest study into the long-term effects of negative interest rates shows the policy works better than is widely appreciated
  • American workers and businesses face a months-long survival test until Covid-19 vaccines become widely available as spending plunges with record daily cases prompting a sudden return to lockdowns
    • Fewer Americans said they were working as the latest wave of the coronavirus infections surge across the U.S., according to data released by the Census Bureau
  • Bloomberg Economics say China’s challenge in 2020 was to keep the economy intact after the pandemic hit. In 2021, it will be to manage a transition back to its long-run potential
  • Australian employers unexpectedly added tens of thousands of jobs in October as Victoria’s tough Covid restrictions began to lift and the state’s workers returned to the labor force, while a recovery in the rest of the economy gathered pace

©2020 Bloomberg L.P.

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