BOE Action, U.S. Workers, Black-Owned Businesses: Eco Day

Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • The Bank of England intensified its response to the fallout from the coronavirus by expanding itsbond-buying program, taking another step in the uphill battle to lift the economy out of the worst recession in centuries
  • Switzerland andNorway’s central banks kept policy on hold, while the European Central Bank reached anothertrillion-euro milestone in its fight to bolster the euro-area economy, extending 1.3 trillion euros ($1.5 trillion) worth of ultra-cheap loans to banks
  • The U.S. has theworst record among major developed countries when it comes to workers’ rights, according to a survey of labor unions
  • As protests against racial discrimination and police killings continue across the U.S., another injustice is ripping through American cities: Black-owned businesses are shutting down at an alarming rate. Hear more on Stephanie Flanders’podcast
  • In France, the government is looking at ways to avoid asolvency crisis ripping through the economy when the state’s emergency loan guarantees expire a year from now. Ideas include converting guarantees to equity loans
  • Bloomberg Economicsresearch shows China’s economy is in better shape than it was earlier this year, but the road to a full recovery from the pandemic will be long — especially with fresh risks emerging
  • China’s central bank wants the total flow of credit to rise byalmost a fifth this year, as part of efforts to push the economy out of the coronavirus-induced slump

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