Brexit Pain, U.S. Tariff Threat, Low Inflation All Over: Eco Day

(Bloomberg) -- Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

• The Bank of England’s practices are “years out of date,” according to a panel of U.K. lawmakers. Separately, here’s a look at the damage already done to the U.K. from Brexit-related turmoil
• No Mr. Nice Guy. The U.S. is holding to its tariff threat even as trade talks with China appear to be entering their final stages
• Low-flation. Weak price growth is frustrating the Federal Reserve, while in India it’s a double-edged sword for the government weeks ahead of a crucial election
• More gloom. Machinery orders in Japan took a tumble in January, a third straight decline and adding to weak economic data in the export-reliant economy
• Not fans. The European Central Bank is the latest to rebuke Modern Monetary Theory, a decades-old economic stance that’s garnered attention particularly amid debates around debt in the U.S.

To contact the reporter on this story: Michelle Jamrisko in Singapore at mjamrisko@bloomberg.net

To contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net, Karthikeyan Sundaram, Tuhin Kar

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