G-7 Call, Australia Cuts, Tracking the Virus in Data: Eco Day

Written by
David Goodman
Written by

David Goodman

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(Bloomberg) --

Good morning Americas. Here's the latest news and analysis from Bloomberg Economics to help you start the day:

Bank of England Governor Mark Carney said international policy makers are crafting a “powerful and timely” defense of the world economy against the spreading coronavirus ahead of an emergency G7 conference call
The response has already started in some countries, with Australia's central bank cutting its key interest rate by a quarter percentage point to a record low 0.5% on Wednesday, and Malaysia also easing policy
- Here are the other rate cuts traders expect, starting with the Bank of Canada later today
The pain from weeks of stalled output in China is starting to appear in dramatic hits to global trade data
- Bloomberg Economics is downgrading its forecast for growth, and anticipates larger spillovers to other major economies
- Meanwhile, here's how the virus will show up in U.S. economic indicators
- Governments struggling to contain the global economic fallout from the virus face mounting calls to unleash a major fiscal stimulus that could help cushion the blow
- The upheaval from the outbreak may be the final jolt that the world's biggest companies need to reevaluate how they operate in a globalized economy, the OECD's chief economist Laurence Boone said.
- Andrew Bailey, who becomes Bank of England governor in less than two weeks, is set to make the first public appearance connected to his new role on Wednesday
- Analysts see Japan falling into a deeper recession as data starts to show just how serious the virus's impact will be for the world's third-largest economy