More Tariffs, U.K. Wages, EU Bankers, India's Elephant: Eco Day

(Bloomberg) -- Good morning, Europe. Here’s the latest news from Bloomberg Economics:

  • U.K. starting salaries rose steeply last month as employers struggled to fill job openings amid the lowest unemployment since the 1970s, a report published Wednesday showed
  • Meanwhile, an outflow of European bankers from London is damping prices and rents in the capital’s housing market, Bank of England policy maker Ian McCafferty said
  • More pain. The U.S. will begin imposing 25 percent duties on an additional $16 billion in Chinese imports in two weeks, while a Fed survey shows the escalating trade war has prompted about 30 percent of U.S. manufacturers to review their capital spending plans
  • Give in. Almost every prescription for Turkey to rescue its financial markets from meltdown, and its economy from the recession that looks increasingly likely to follow, involves the country’s president backing down
  • On point. Australian central bank chief Philip Lowe said inflation is expected to reach the 2.5 percent target midpoint in 2020 and the interest-rate outlook is unchanged
  • Elephant’s running. India is on track to hold its position as one of the world’s fastest-growing economies as reforms start to pay off, according to the International Monetary Fund
  • Quantum of solace. The question facing policy makers in the Philippines is not whether to raise interest rates for a third time in a row, but by how much

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