ECB’s Alternatives, Bipartisan Meeting, Growth Stumble: Eco Day

Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help take you through to the weekend.

  • ECB officials haveasked staff to propose new ways to measure financial conditions in the euro area; that comes as President Christine Lagarde signaled that theeuro-zone economy is headed for a double-dip recession
  • President Joe Biden’stop economic adviser plans to meet with a bipartisan group of lawmakers in coming days to discuss the administration’s Covid-19 relief plan amid widening GOP opposition
  • French Finance Minister Bruno Le Maire said he will seek to coordinate European and U.S. fiscal stimulus efforts in talks as soon as next week,indicating unease with Biden’s plans for a massive $1.9 trillion Covid-19 relief plan
  • Bloomberg Economicsalternative data shows a growth stumble on fresh virus fear
  • Chancellor of the Exchequer Rishi Sunak will set out plans in his budget to startrestoring order to the U.K.’s finances; meantime, almost 9 millionpeople in Britain had to borrow more money by the end of last year to help them through the coronavirus crisis
  • Declines in Japan’s keyinflation deepened in December as a resurgence of the coronavirus weighed on the economy and the Bank of Japan heads toward a March policy review; A separate report showed Japan’s service and factory activityweakened in January
  • New Zealand inflation wasfirmer than economists expected in the fourth quarter, adding to signs the central bank may not need to cut interest rates any further

Source: Read Full Article