ECB’s One Option, German Stimulus, Swiss Contraction: Eco Day
(Bloomberg) -- Welcome to Wednesday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- All eyes are on Boris Johnson to help stem a no-deal Brexit in talks with the European Union -- or risk hobbling the U.K. economy's shaky recovery from coronavirus
- The European Central Bank might have only one option to avoid market backlash in its decision tomorrow, the Bank of Canada's new chief assumes his role under a heap of debt and China's central bankers are trying to fix a decades-old credit conundrum
- The Swiss economy slumped the most in at least four decades as a result of the coronavirus pandemic, with private consumption and investment plummeting
- Bloomberg Economics estimates that 10% of Europe's labor supply could be unlocked as schools and nurseries reopen. Whether that translates into a 10% boost to economic activity will depend on whether parents feel it's safe to send their children back to school and they have jobs to return to
- Ukraine wears the “nanny state” label proudly in a bid to draw in post-virus investors
- Korea plans to issue $19 billion in bonds to help fund an extra budget. Meanwhile, Germany's stimulus talks slow and one-third of a record U.S. unemployment payout hasn't arrived
- Millions more U.S. jobs are in jeopardy, Bloomberg Economics estimates
- Alternative gauges show that economic activity in China is back to about 80%-85% of pre-virus levels, according to Bloomberg Economics analysis
- Australia's economy is ending almost three decades of expansion, contracting in the first quarter as household spending collapsed
- Turkish policy makers are pumping money into the economy at the fastest pace in over a decade to contain the fallout of the coronavirus pandemic, a move that risks weakening the currency and stoking inflation
©2020 Bloomberg L.P.
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