Global Spending Plans, Lagarde’s Tasks, China’s Status: Eco Day

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Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The world’s top central banks areurging governments to put concerns about mounting debt aside for now and keep spending until the economic recovery from coronavirus is complete
  • The International Monetary Fundwarned that the world economy still faces an uneven recovery until the virus is tamed even as it offered a less-dire view of this year’s recession
  • When Christine Lagarde became president of the European Central Bank, she had two tasks shewanted to accomplish: to reconcile the ECB’s fractious governing council and build bridges with the wider public through improved communication. One year on, she’s managed to achieve only one of those goals
  • Buyers of mansions and penthouse apartments in London arefinding bargains hard to come by
  • U.K. Chancellor of the Exchequer Rishi Sunakcould free the poorest nations to fight the coronavirus pandemic by protecting them from “unscrupulous” private creditors, the opposition Labour Party said
  • China is cementing its status as the world’s dominant trading nation,confounding warnings that a once-in-a-century pandemic combined with simmering tensions with the U.S. would derail that status
  • Singapore’s central banksignaled it would keep monetary policy unchanged for longer to complement a massive fiscal stimulus supporting the economy’s recovery
  • Bank of Korea Governor Lee Ju-yeol said it wasn’t time toconsider full-scale quantitative easing to help the economy, but added that the central bank would maintain its support for the economy until it is back on a growth path
  • Argentina’s government is not going todevalue the peso, President Alberto Fernandez said Tuesday night amid widespread speculation on the issue

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