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This Article is From Oct 09, 2020

U.S. Stimulus Back, Policy Independence, IMF Lockdowns: Eco Day

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

  • The White House shifted tack signaling it's again leaning toward a large-scale stimulus bill, as Fed officials kept up pressure for Washington to renew fiscal support for the virus-ravaged economy
  • SNB President Thomas Jordan said monetary and fiscal policy must be clearly separated to preserve the central bank's independence
  • Lifting lockdowns is unlikely to lead to a decisive and sustained economic boost if Covid-19 infections remain elevated, the IMF said
  • Xi Jinping's Chinese Communist Party has threatened to invade Taiwan for more than seven decades. Now fears are growing among analysts, officials and investors that it might actually follow through
  • The BOJ delivered the most wide-ranging upgrade of its regional economic assessment in seven years amid continued signs of improvement in activity from the depths of the Covid-19 slump
  • Fed Chair Jerome Powell has done everything to demonstrate his desire for higher inflation short of dressing up as a dove and cooing in front of headquarters. Meantime, Boston Fed chief Eric Rosengren said the long period of low interest rates before the coronavirus pandemic is contributing to the depth of the current recession
  • A look at what China's three red lines mean for property firms
  • The WTO said Nigeria's Ngozi Okonjo-Iweala and South Korea's Yoo Myung-hee advanced to the final round to be its director-general
  • The number of Americans seeking unemployment benefits fell for a second week while remaining elevated
  • ECB officials agreed at their latest policy meeting to avoid any complacency in their battle against the recession, and to counter perceptions that the euro would inevitably strengthen
  • Tiff Macklem said negative interest rates in Canada remain an option, even if policy makers aren't currently considering them
  • Just 28% of Americans say they already have or expect to return to workplaces before the end of the year
  • The 50 richest Americans now hold almost as much wealth as half of the U.S., as Covid-19 transforms the economy
  • Australia's Prime Minister Scott Morrison announced his intention to nominate outgoing finance minister Mathias Cormann to be the next secretary general of the OECD
  • The number of suicides rose in Japan in August due to more women and school-aged children taking their own lives -- offering a first glimpse into the consequences of the mental health strain brought about by Covid-19 around the globe

©2020 Bloomberg L.P.

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