Aso’s Brother-in-Law, Global Tax Talks, Aussie Housing: Eco Day

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Happy Friday, Asia. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:

• Former Olympics minister Shunichi Suzuki is likely to be named Japan’s next finance minister, replacing Taro Aso, a report said
• The 140 countries attempting to overhaul global tax rules for an increasingly digitized economy are racing to resolve key details
• The unrelenting surge in Australia’s home prices is fueling momentum for macroprudential measures to contain credit growth and keep a lid on swelling financial risks
• It’s the Australian Paradox. In terms of women’s education, no country does better. But when it comes to participation in the economy, it ranks 70th — behind Kazakhstan, Serbia and Zimbabwe
• President Joe Biden is poised to avoid a disruptive shutdown of the government, but deal-making continues on his economic agenda
• Treasury Secretary Janet Yellen suggested that the U.S. government may have a few days of cash left after the Oct. 18 date she gave earlier this week before a potential default linked to the debt limit
• Sri Lanka’s central bank will Friday unveil a road map to restore economic stability
• The Philippines will extend the pilot implementation of a new virus response strategy in the capital region by another two weeks
• German consumer prices are rising at the fastest pace in nearly three decades, fueled by supply bottlenecks and temporary pressures
• Denmark cut its main interest rate after $8 billion in currency market interventions weren’t enough to defend the krone’s peg
• The U.K. economy emerged from the winter lockdown more strongly than previously reported, but not nearly enough to claw its way back to its pre-crisis size this year
  • Meantime, U.K. directors are the least optimistic about the economy since the height of the winter lockdown after confidence “fell off a cliff” in September
• Ngozi Okonjo-Iweala, the leader of the WTO, began with a plan to score quick negotiating victories that she said would help reboot the trade body. Now, she’s even privately floating the idea of resigning
• Amid a trading scandal that’s forced two regional Fed presidents to resign, a public advocacy group has aired concerns about a third regional chief and the job he held before joining the central bank
• Bloomberg Economics introduces an update to the Taylor rule in this wrap of its reactions and analysis of events
• A new Bloomberg function lets you explore how surprises in inflation, fiscal policy, and other factors may affect monetary policy
• Five years ago, just ahead of a presidential election, it was family-run conglomerates under attack. This year, months before a close presidential race, lawmakers are targeting big tech

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