Central Bank’s Peak, Wages Soaring, Japan’s Computers: Eco Day

(Bloomberg) -- Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week:

• Rishi Sunak’s tenure as U.K. Chancellor of the Exchequer is reaching a defining moment as he decides whether millions of workers living off government aid should soon begin fending for themselves
• Israel’s central bank is making a stand against further appreciation of the shekel and remains unlikely to push interest rates to zero or below after the newly formed cabinet appeared to stave off collapse
• After convening every August since 1982 at the edge of Wyoming’s magnificent Teton mountain range, monetary policy makers will hold a virtual Jackson Hole conference that will look pale by comparison. The same could probably be said of the central banks themselves
• Workers’ wages in a corner of Wisconsin, right along the southwestern shore of Lake Michigan, are climbing faster than in any other part of the country
• China’s economy can grow this year if the nation achieves its target of adding 9 million jobs, Premier Li Keqiang said in a visit to the western city of Chongqing
• More than half of the 1.3 million Australians who lost their jobs or were stood down at the start of the pandemic are back in work, though the recovery is being hampered by state border closures, Treasurer Josh Frydenberg said
• The coronavirus crisis may have finally forced Japan’s government to get serious about fixing its computer systems. Before the pandemic, the problems might have been merely annoying, but now they’re impeding an economic recovery
• Africa’s largest economy probably contracted for the first time in more than three years as the crash in oil prices and the global fallout from the coronavirus pandemic took a toll

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