Diverging Inflation, U.S.-EU Trade Relations, U.K. Jobs: Eco Day
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Happy Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to take you through to the weekend:
- Inflation is soaring across the euro area, but it’s also diverging by the most in years in a further complication for the European Central Bank’s ongoing pandemic stimulus
- The U.S. and European Union are focused on strengthening the multilateral trading system, the trade minister for Brussels said, less than two weeks after defusing one of biggest transatlantic disputes lingering from the Trump administration
- Driving instructors, prison officers and fork-lift truck drivers were in increasing demand in the U.K. at the start of November as companies continued to struggle to fill vacancies
- The British Chambers of Commerce said 80% of U.K. businesses are feeling the effects of higher prices as well as shortages of goods and workers
- Bloomberg Economics’ forecasting model shows that if the ECB had fully bought-in to the transitory-inflation narrative it would respond to the hit to income by loosening monetary policy
- Bloomberg Economics’ review of evidence suggests in years ahead the world may face something like a repeat of the 1970s oil shocks
- Top White House officials don’t believe Fed Chair Jerome Powell’s sale of shares last year disqualify him from reappointment
- The Swiss National Bank is keeping a close eye the change underway in foreign exchange trading, because some developments risk affecting the efficiency and robustness of the market
- The IMF wants its new trust for middle-income and fragile island economies to start with about $30 billion
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