May's Defeat Means BOE Delay, Weidmann's New Contract: Eco Day
(Bloomberg) -- Hello Europe, it’s Wednesday. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- Prime Minister Theresa May’s landmark defeat over her Brexit deal may mean a delay to the next hike in interest rates. The Bank of England is highly unlikely to lift rates until the shape of Brexit is known
- The German government is planning to extend the contract of Bundesbank President Jens Weidmann by another eight years when it expires at the end of April, according a person familiar with the matter. He’d then wait and see if he is picked to succeed Mario Draghi as ECB president in November, the person said
- China’s central bank boosted injections via open-market operations to the most on record to meet seasonal demand for cash due to tax payments and major holidays
- Kansas Fed President Esther George, who’s been one of the most hawkish members of the central bank’s policy group, urged her peers to be patient and pause before considering additional rate increases
- The world’s debt pile is hovering near a record at $244 trillion, which is more than three times the size of the global economy
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