Virus Hit Signs, G-2O Challenge, SNB Content With Franc: Eco Day

(Bloomberg) --

Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend:

• Asia’s biggest economies are already feeling the brunt of the coronavirus shock. Key gauges for manufacturing in Australia and Japan fell while early export orders for South Korea showed a slump in Chinese demand
• Governments across the world are starting to use more fiscal firepower to boost economies, though the shift may not be happening fast enough for appease central bankers. Tom Orlik says G-20 finance chiefs confront a dreary and deteriorating picture on global growth that raises two questions
• The Swiss National Bank appears to be content for now to allow the franc to drift higher, with little evidence that it’s getting into a dogfight with markets. Here’s one reason why
• Fed Vice Chair Richard Clarida took issue with suggestions that investors expect the central bank to cut interest rates in the middle of this year as he called the economy fundamentally sound
• Swedes already use less cash than anyone else in their daily transactions. Now, the central bank is planning a landmark test based on blockchain technology in the hope of introducing an official electronic krona
• Finally, here’s our collection of this week’s analysis, scoops and enterprise from Bloomberg Economics

To contact the reporter on this story: Jiyeun Lee in Hong Kong at jlee1029@bloomberg.net

To contact the editors responsible for this story: Paul Jackson at pjackson53@bloomberg.net, Zoe Schneeweiss

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