Fed Decision Day, Awkward ECB, U.K. Inflation Holds Up: Eco Day

(Bloomberg) -- Good morning Americas. Here’s news from Bloomberg Economics to help get your Wednesday started:

• It’s Fed decision day, and, with a hike almost fully baked in, here’s your guide to what else to look for
• Mario Draghi is holding what might be the most awkward European Central Bank policy meeting in his tenure. Latvian Governor Ilmars Rimsevics, who as host would normally sit alongside Draghi at Thursday’s news conference, is instead fighting corruption allegations and is barred by national authorities from the building
  • However, while the meeting may see Draghi signal a path away from extraordinary stimulus, data Wednesday showing a slump in euro-area industrial production has added to a series of underwhelming economic reports
• Meanwhile, the ECB has been taking a closer look at three of the euro zone’s biggest trading books, according to people briefed on the matter
• The biggest increase in auto-fuel prices in more than seven years helped keep U.K. inflation from continuing its downward path last month
• The People’s Bank of China will raise borrowing costs in the open market if the U.S. Federal Reserve decides to increase rates this week, according to a Bloomberg survey
• Australia’s central bank chief Philip Lowe said any policy tightening is still some way off as the nation’s -- and world’s -- wage puzzle remains unsolved

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