Looming Lockdowns, Biden Speech, Pakistan Bailout: Eco Day
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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- A Covid resurgence is testing the European Central Bank’s timeline for winding down its emergency stimulus, while Bloomberg Economics weighs the potential fallout from new movement restrictions
- Meanwhile Dubai is enjoying a faster-than-expected economic rebound
- Two Bank of England officials raise questions about the certainty of a December interest-rate hike, saying the decision would be finely balanced
- U.S. President Joe Biden will give a speech Tuesday on the economy and combating inflation as markets await his decision on the next Federal Reserve chair
- Regardless of whether Jerome Powell or Lael Brainard run the Federal Reserve, the U.S. central bank may find itself in an inflation bind of its own making, while the uncertainty around the Fed’s leadership may hamper the response to inflation, a senior Senate Democrat says
- China’s central bank signals possible easing measures as risks to the economy build up
- Soaring energy prices have spread to Japan, even if its official inflation numbers look modest
- South Korea’s exports this month look set to extend a run of double-digit gains, with the strength in the leading indicator for Asian trade underpinned by chip and ship sales
- The International Monetary Fund revived a $6-billion bailout package to help Pakistan’s struggling economy after the central bank hiked its key interest rate by 150 basis points to curb Asia’s fastest inflation
- Negotiators of the new global corporate tax regime will need to sell the deal in the U.S., whose companies face the biggest impact from the overhaul
- Finally, here’s what’s to look out for in the world economy this week
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