U.K. Business Rates, Fed Taper Time, China Inflation: Eco Day

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

• The U.K.’s Chancellor of the Exchequer Rishi Sunak faces growing pressure to overhaul business rates, after representatives of more than 250,000 employers said they drag on investment and set back government goals to boost productivity
• Fed officials broadly agreed they should start reducing emergency support for the economy in mid-November or mid-December, according to minutes of the Sept. 21-22 Federal Open Market Committee meeting
• China’s factory-gate prices grew at the fastest pace in almost 26 years in September, adding to global inflation risks and putting pressure on local businesses to start passing on higher costs to consumers
• Eight in 10 U.K. companies struggled to find workers last month despite many of them increasing wages, according to a survey that shows labor shortages are intensifying
• Slovakia’s president joined intensifying calls for the resignation of Peter Kazimir, a member of the European Central Bank’s Governing Council, who was charged with bribery in Slovakia
• The IMF will discuss plans for a trust to encourage nations to move their economies toward a more climate-friendly, low-carbon future
• Finance ministers from the world’s biggest economies endorsed a global accord overhauling how countries tax big corporations
• The crypto-currency market is double the size of sub-prime debt in the U.S. on the eve of the financial crisis, and poses a threat unless urgently regulated, the Bank of England said
• The Bank of England will cease off-record briefings between members of its rate-setting committee and individual private financial institutions, a step toward improving transparency
• Singapore’s central bank unexpectedly tightened its monetary policy settings, strengthening the local dollar, as the city-state joins policymakers globally concerned about risks of persistent inflation
• Turkish President Recep Tayyip Erdogan fired three members of the central bank’s interest-rate setting committee in a midnight decree
• Former U.S. Treasury Secretary Lawrence Summers castigated monetary policy makers for paying too much attention to social issues and not enough to the biggest risk to inflation since the 1970s

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With assistance from Bloomberg