ECB Policy Focus, SNB Cliffhanger Vote, China Stability: Eco Day

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

  • European Central Bank policy makers are trying topersuade investors not to focus too much on the size of their next dose of monetary stimulus, hoping they will instead look at its design
  • U.K. companies are turning tocheaper overseas labor to complete their post-Brexit customs paperwork, creating jobs in countries such as Romania and India due to a shortage of trained staff in Britain
  • The Swiss National Bank faces acliffhanger national vote on its equity investments that could force it to sell defense company stocks worth about 19 billion francs ($21 billion).
  • U.K. Prime Minister Boris Johnson announced a 12 billion-pound ($15.9 billion) plan to boost green industries and tackle climate change, in a blueprint he says will create orsupport as many as 250,000 jobs
  • France’s second lockdown will push the economyback into a slump and slow the recovery in 2021
  • Chinese Premier Li Keqiang expressedconfidence in the economy, highlighting its stability in a world mired in recession and grappling with a resurgence in coronavirus infections; Separately, China’s surging economy is set toovertake 56 countries in the world’s per-capita income rankings, the IMF projects
  • Germany’s auto industry secured 5 billion euros ($5.9 billion) in government aid to helpweather the coronavirus crisis and invest in the transition to electric cars
  • Judy Shelton’s nomination to the Federal Reserve Board was blocked in the Senate Tuesday, astunning setback for Senate Majority Leader Mitch McConnell and a blow to President Donald Trump’s drive to shake up the U.S. central bank before he leaves office
  • Japanese exports fell only fractionally in October,improving more than expected as shipments to the U.S. and China held up
  • It’s just suffered its biggest economic slump since the Great Depression, its border is closed and unemployment is rising, but New Zealand’s housing market isbooming

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