U.S.’s Huge Week, China Boom, Easing Set For Australia: Eco Day

Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • The world’s biggest economy is entering a marathon week that spans a presidential election, a Fed meeting and the latest jobs snapshot
  • China’s economic recovery is going from strength to strength, writes Bloomberg Economics’s Chang Shu
  • Australia’s central bank is expected to cut interest rates to a fresh record low, reduce its three-year yield target and unleash further bond buying as it tries to turbo-charge a recovery
  • Democratic nominee Joe Biden leads President Donald Trump in a series of polls released Sunday, remaining ahead nationally and in battleground states, although some state races remain very close
  • Indian banks saddled with the world’s worst bad debt pile pose a risk to the nation’s economic growth unless the government steps in to recapitalize some of them, three ex-central bank chiefs say
  • The Fed won’t increase the pace of its asset purchases this year or next, and wouldn’t meaningfully boost the U.S. economy even if it did so, according to most economists surveyed by Bloomberg News
  • The Bank of England looks certain to unleash another burst of monetary stimulus this week as new coronavirus lockdowns shock the economy and put yet more pressure on government finances
  • “I’m going to be myself, and therefore probably different,” Christine Lagarde declared in a defining monologue at her first press conference as ECB chief in late 2019. A year on, she wasn’t wrong
  • As troops in the Himalayas hunker down for the brutal winter, the outcome of the worst clashes in decades is becoming clear: China has pushed further into territory once patrolled exclusively by India. Meantime, in the battle for public opinion between China and Taiwan, Taipei is turning to its high-profile women for advantage

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