IMF Head, Not in Stagflation Now, London Back to Office: Eco Day

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Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day.

• Kristalina Georgieva will remain as head of the International Monetary Fund after the lender’s board reviewed accusations that she improperly influenced a World Bank ranking of China’s business climate
• Stagflation is too strong a word. But across the U.S., China and others, the recovery is losing momentum, Bloomberg Economics writes
• More bankers in London’s financial districts are buying lattes and returning to their desks every week, according to Bloomberg’s Pret Index
• Bets against the pound are gathering pace amid speculation that any Bank of England efforts to curb inflation would darken the outlook for growth and consumer sentiment
• As the economy tanked, more people in the U.K. and Ireland decided to open bookstores
• A one-off shift in workers’ pay wouldn’t be a sign of sustainably higher inflation, ECB Chief Economist Philip Lane said
• A surge in energy and metal prices is offering investors a fresh reminder of how the commodities market can fuel inflation
• The U.S. and China are still far apart on economics and trade
• Three U.S.-based academics won the 2021 Nobel Prize for economics for work using experiments that draw on real-life situations

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With assistance from Bloomberg