BOE Hike Bets, China Stabilizing, Euro-Area Inflation: Eco Day
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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- China’s economy performed better than expected in October as retail sales climbed and energy shortages eased, partly offsetting a slump in property
- U.K. economists have become more hawkish over the past month and now expect the Bank of England to increase interest rates in December as concerns about inflation intensify
- Euro-area inflation will be faster than previously thought this year and next before slipping well below the European Central Bank’s goal in 2023, according to economists polled by Bloomberg
- The price of U.K. homes coming to market fell at the sharpest pace since the height of the national coronavirus lockdown in January
- Japan’s economy shrank more than expected last quarter as shoppers stayed home and factories pared production, ramping up expectations for Prime Minister Fumio Kishida’s stimulus package
- Meantime, Bank of Japan Governor Haruhiko Kuroda said financial stress from the pandemic is limited to certain sectors of the economy, potentially signaling the BOJ is planning to scale back its Covid-era funding program
- COP Scorecard: Here are the most important outcomes from the Glasgow talks
- The European Union should avoid “hasty and risky” energy market reforms in response to recent jumps in consumer prices, said Economy Commissioner Paolo Gentiloni
- Bloomberg Economics explores scenarios from a marked escalation in U.S.-China tensions to a new Cold War, putting numbers on the magnitude of the impact
- Finally, here’s what’s to look out for in the world economy this week
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