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Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- Mexico shouldn’t start a cycle of easing borrowing costs amid threats by U.S. President Donald Trump to slap tariffs on Mexican goods, deputy governor Jonathan Heath said
- Market expectations for two Federal Reserve rate cuts by the end of September have overtaken expectations of only one, fed funds futures indicate
- Argentina’s inflation probably slowed for a second straight month in May on a combination of stable currency, price controls, and tight monetary policy
- The Swiss National Bank warned of worsening global downside risks, but kept policy unchanged. In keeping with its history of surprises, it also unveiled a new policy rate, dumping its Libor-based one
- At the European Central Bank, the race to succeed Mario Draghi as president is a proxy battle between Germany and France (again)
- Whoever gets the job may have a tough time ahead if the region’s slump keeps going in its current direction
- But the euro’s global usage is increasing again
- The People’s Bank of China has offered up a peek behind the central bank’s curtain. Meantime, a surge in pork prices is having less of an effect on inflation than it once would have, helping the central bank keep policy supportive
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