Eurozone’s Last Hurrah, Common Prosperity, IMF Petition: Eco Day

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

• The euro area’s final spurt of growth before logistics logjams and surging gas prices stunt its momentum will be on display in data this week
• Chancellor of the Exchequer Rishi Sunak is likely to pocket most of the extra proceeds from a record rebound in Britain’s economic growth as he delivers his annual budget on Wednesday
• The “common prosperity” agenda will have profound implications for the Chinese economy, according to Bloomberg Economics
• Almost 200 IMF staff signed a petition asking Managing Director Kristalina Georgieva to clarify details of actions that led to the softening of a warning about environmental risks to Brazil’s economy
• The Bank of Japan is widely expected to leave its stimulus unchanged Thursday while signaling more delays in the recovery
  • A failure of Abenomics is the top issue for Japan voters
• China’s regional hinterland is suffering as Beijing reins in debt
• Bloomberg Economics outlines how inflation could prove team transitory wrong
• BOE Governor Andrew Bailey’s flurry of hawkish comments won’t translate into a vote for higher interest rates, according to HSBC
• President Joe Biden and key advisers have begun to zero in on filling vacancies at the Fed as Chair Jerome Powell’s term winds down
• The Netflix Inc. hit Squid Game may be a big win for South Korea’s entertainment industry, but it has exposed the nation’s darker side
• India showed more signs of a recovery taking hold last month as its consumption-driving festive season kicked off, keeping it on track to regain the title of the world’s fastest-growing major economy

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With assistance from Bloomberg