Overseas Headlines-December 31, 2019

December 31, 2019

United States:

Biden Holds Narrow Edge Over Trump in Florida: Campaign Update

“Joe Biden holds a narrow edge over Donald Trump in a head-to-head match-up in Florida, the only leading Democratic candidate currently presenting serious competition to the president in the crucial 2020 swing state, according to a poll released Tuesday. The former vice president is backed by 47% of Florida voters, while 45% say they support Trump, according to the poll by Mason-Dixon Polling & Strategy conducted Dec. 11-16. The result is well within the survey’s 4 percentage point margin of error, and 8% of registered voters remain undecided.”



ECB’s De Cos Says Europe Urgently Needs an Economic Overhaul

European Central Bank policy maker Pablo Hernandez de Cos issued a strongly worded warning to leaders that they must act to prevent the region sliding into a lengthy period of low economic growth. The Bank of Spain governor, in an end-of-year article, listed a host of challenges including the proliferation of protectionism, the struggles of the auto industry, aging populations and stagnating productivity. “This worrying environment means that a reconsideration of the macroeconomic policy framework in Europe is urgent and necessary, in order for the response to the challenges to be appropriate,” he said.”



China to Scrap Benchmark as Rates Shift Toward Market-Led System

“China’s central bank ordered lenders to adopt a new loan-pricing regime for all credit from next year, marking an end to the previous benchmark and another step toward liberalizing the financial system. Financial institutions should stop using the old lending rate as the pricing reference for all credit from January, while gradually converting existing loans to a new base — the loan prime rate — from March to August, the People’s Bank of China said Saturday. The one-year lending rate had provided the previous anchor for loans across the economy.”


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