BOE's Rates, Fed's Hawkish Dove, Japan's Rebound: Eco Day

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

• The Bank of England hasn’t left it too late to start raising interest rates, even as wage growth may hit 4 percent next year, according to outgoing policy maker Ian McCafferty.
• In hawkish comments from one of the Federal Reserve’s most reliable doves, Chicago’s Fed chief said the central bank may need to raise interest rates to “somewhat restrictive” levels to combat the effects of recent fiscal stimulus.
• Federal Reserve officials deployed an experimental new tool as they scrambled to assess the harm done by storms hammering the U.S. last year: a trove of big data.
• America’s white nationalist movement is complex, but there’s a common thread running through the alt-right: economic disadvantage.
• Capital investment drove a strong rebound in Japan’s economy in the second quarter, as companies turned to technology to cope with a labor shortage.
• While China is growing at a very steady pace, there’s a wide divergence among its 31 regions in the first half of this year. We take a look under the hood.

To contact the reporter on this story: Enda Curran in Hong Kong at ecurran8@bloomberg.net

To contact the editors responsible for this story: Malcolm Scott at mscott23@bloomberg.net, James Mayger

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