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Lagarde Poised to End 2020 in Fanfare of ECB Stimulus: Eco Week

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What Bloomberg Economics Say…

“Many policy makers have already signaled a preference for focusing on the two main tools used so far in the ECB’s crisis response — the Pandemic Emergency Purchase Program and Targeted Long-Term Refinancing Operations. We anticipate that both programs will be prolonged by six months to the end of 2021, but a nine or 12-month extension is a possibility.”

–Maeva Cousin, David Powell and Jamie Rush. For full PREVIEW, click here.

Elsewhere, European Union leaders continue to debate the bloc’s rescue fund and central bankers in Canada, Brazil and Ukraine are among monetary policy makers also meeting.

Click here for what happened last week and below is our wrap of what is coming up in the global economy.

Europe, Middle East, Africa

Monthly U.K. GDP data on Thursday is set to show the economy grew a moderate 0.2% in October in what was possibly the last expansion of 2020 before renewed lockdowns took hold across the country to combat resurgent infections of the coronavirus.

In evidence of underlying resilience in Europe’s biggest economy despite the crippling effects of the pandemic, German industrial production probably recorded a fourth monthly gain in October, with an impressive jump of 1.5%. That follows on from Friday’s healthy jump in factory orders.

Read more: EU Destiny Meets ECB Policy in Pivotal Week for Crisis Recovery

On Thursday, the Ukrainian central bank will decide on interest rates amid a strained budget and uncertainty over IMF aid. Serbia meets the same day and is predicted to hold.

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