Overseas Headlines – May 29, 2020

United States:

Trump’s Next China Move Looms While Economic Risks Re-Emerge

“There’s no end to the downward spiral of U.S.-China relations with the vibe between the world’s two largest economies seeming to plumb new depths with each news cycle. President Donald Trump plans to announce new policies toward Beijing within hours, saying Thursday that “we are not happy with China. We are not happy with what’s happened.”



Euro-Area Inflation Close to Zero Adds to Reason for ECB to Act

“The euro area’s inflation rate fell to the lowest level in four years, adding to reasons for the European Central Bank to expand monetary stimulus. With prices growing next to nothing and the economy deep in recession, economists surveyed by Bloomberg predict the ECB will step up emergency asset purchases next week to rekindle growth. Most respondents expects a top-up of 500 billion euros ($550 billion) that would take purchases under all plans this year to 1.6 trillion euros.”



India’s Growth Slows to 3.1% as Virus Roils Economy

“India’s economic growth slowed last quarter, just as the government began locking down a country of 1.3 billion people to contain the coronavirus pandemic. Gross domestic product expanded 3.1% in the three months through March from a year ago, the Statistics Ministry said in a statement in New Delhi on Friday. That is slower than the 4.1% expansion in the previous quarter, while the median forecast in a Bloomberg survey of 37 economists was for a growth of 1.6%.”



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