(Bloomberg) Happy Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week. Central banks helped save the world economy from depression as the pandemic struck. Now they are dealing with the hard part: managing the recovery amid a difference of opinion with investors In a battle between those who love or hate China’s economic growth target, a compromise appears to have emerged: a goal low enough to be more easily ignored For Swiss National Bank President Thomas Jordan, the franc’s precipitous drop to a 20-month low against the euro has come at a helpful moment after an open season for attacks on his policies Empowering women to participate fully in the modern economy would light a fire under global growth, adding about $20 trillion to global GDP in 2050 relative to a baseline scenario of persistent gender inequality, writes Bloomberg Economics’ economists including Adriana Dupita There are still almost 40 countries where women can
by Tyler Durden
Monday, Mar 08, 2021 - 07:47 AM
US equity futures and global markets jumped higher at the reopen of Asian trading late on Sunday following news of the Senate s passage of the Biden $1.9TN stimulus plan and the spike higher in oil following the Houthi drone attack on Aramco facilities in the Gulf, but have since dipped amid renewed reflationary fears which pushed Treasury yields as high as 1.61% overnight hitting tech stocks with lofty valuations even as value stocks and European markets were broadly in the red. After rising above $71, Brent has since faded gains and was last trading near where it closed Friday at $69. Bitcoin soared as HK-based firm the latest institution to convert cash into Ethereum and Bitcoin.
SNB Breathes Again as Franc Drop Rebuts Criticism on Two Fronts bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.
Swiss central bank chief rejects currency manipulator label from the U.S. CNBC 12/17/2020 Elliot Smith
The U.S. Treasury added Switzerland to a list of nations it suspects of deliberately devaluing their currencies against the dollar.
The Swiss National Bank has long maintained a willingness to intervene more robustly in foreign exchange markets, and has staunchly denied manipulating the Swiss franc.
The U.S. Treasury said Switzerland s interventions totaled 14% of GDP.
Swiss central bank chief rejects currency manipulator label from U.S. government
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LONDON Swiss National Bank President Thomas Jordan has rejected a U.S. decision to label Switzerland a currency manipulator.
The U.S. Treasury on Wednesday added Switzerland to a list of nations it suspects of deliberately devaluing their currencies against the dollar.
Jordan told CNBC on Thursday that neither the SNB nor Switzerland itself has artificially manipulated the value of the Swiss franc. Our monetary policy is necessary, it is legitimate, and we have a very low inflation rate it is even negative at this moment so we have to fight this deflation, and the Swiss franc is very strong, so it appreciated in nominal terms over the last 12 years enormously, both vis-a-vis the euro and vis-a-vis the U.S. dollar, he said.