Swiss Get U.S. Manipulator Tag, BOE Decides, Fed Tweaks: Eco Day

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

  • London enters the last days of 2020 with its position as the U.K.’s economic growth engineimperiled by Brexit and the struggle to contain the coronavirus
  • The Bank of England is likely to keep policy unchanged in itsfinal decision of the year amid the uncertainties
  • The U.S. labeled Switzerland and Vietnam ascurrency manipulators in the Treasury’s foreign-exchange policy report; the Swiss nonetheless pledged tokeep up currency intervention, while Vietnamdisputes the underlying charges
  • The Federal Reserve promised to keep up bond-buying until“substantial” economic gains emerge, alsoextending its temporary dollar swap lines and repurchase facility
  • The Czech Republic will probablykeep interest rates unchanged as it awaits the full impact of the coronavirus crisis before starting a debate on tightening monetary policy
  • The U.S. economy is showing signs of sputtering asretail sales tumble
  • China isgoing it alone among major central banks, signaling tighter monetary policy as the world’s second-largest economy recovers
  • China brings up last place on aBloomberg scorecard meant as a guide for emerging-market opportunities in 2021, with Thailand ranking at the top
  • New Zealand’s economyrebounded from recession in the third quarter as massive fiscal and monetary stimulus sparked a recovery in consumer spending
  • Brazil risks a“lost decade” if it doesn’t cut spending and mandatory obligations, according to a study by the Organization for Economic Co-operation and Development

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