Powell Eyes Retail, Turkey's Payback, Sweden's Prudence: Eco Day
(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- Federal Reserve Chairman Jerome Powell said the central bank will be watching retail sales data, due Monday, for signs that American consumer spending bounced back from a surprisingly weak end to 2018.
- It’s payback time for Turkey’s economy after a decade of living beyond its means, and the reckoning couldn’t come at a worse time for President Recep Tayyip Erdogan as the country heads toward bellwether municipal elections.
- Sweden’s Finance Minister Magdalena Andersson said her fiscal prudence will serve the country well as growth cools at home and global risks mount.
- For German industry, there’s no shelter from the brewing economic storm as global risks threaten to choke off Europe’s growth engine.
- Japan Inc. is pushing back after years of pressure to give bigger pay raises. The BOJ shouldn’t lock itself into monetary stimulus to reach its inflation goal, one of Japan’s largest business groups says, and Yuki Masujima warns that recent moves by the Fed and ECB are revealing the soft underbelly of the BOJ’s framework
- The world economy risks remaining weak for a while longer
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