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IMF Cash Mystery, Canada Rate Timing, India’s Toolkit: Eco Day

IMF Cash Mystery, Canada Rate Timing, India’s Toolkit: Eco Day

Welcome to Thursday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • Fewer than half of the 87 countries that received a combined $118 billion in emergency IMF loans pledged to account for their spending
  • The Bank of Canada ended its bond-buying stimulus program and accelerated the potential timing of future interest rate increases
    • Bloomberg Economics says the shift is difficult to square with downward adjustments made to the GDP forecasts
  • India’s central bank said it will drain cash from the banking system for longer periods as it steps up efforts to normalize liquidity
  • The collapse in the global sovereign-debt yield curve accelerated, sending a foreboding signal about a slowdown in economic growth
  • The RBA’s game of chicken with the bond market is reaching new heights after Wednesday’s inflation surprise
  • Bloomberg Economics says U.S. GDP may hint at stagflation, but it’s not a repeat
    • The U.S. is suffering longer delivery delays than other economies because of stronger demand from American consumers, a signal that high inflation is likely to persist
  • U.K. Chancellor of the Exchequer Rishi Sunak appears to have embraced surging inflation
  • Brazil’s central bank is poised to deliver its biggest interest rate hike in nearly two decades on plans for a spending surge
  • Global heads of government will endorse a historic revamping of international corporate tax rules when they gather in Rome, though they have a long way to go to make the plan a reality

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