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U.S. Inflation, Brazil’s Economic Record, Rate Reviews: Eco Day
U.S. Inflation, Brazil’s Economic Record, Rate Reviews: Eco Day
16 Dec 2021, 07:26 PM IST
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(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.
Welcome to Thursday, Americas. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- U.S. Federal Reserve Chair Jerome Powell signaled on Wednesday that inflation is now enemy No. 1 to keeping the U.S. economic expansion on track and returning the labor market to something approaching ebullient pre-pandemic levels
- The re-election of Brazilian President Jair Bolsonaro hinges on the economy -- and next year’s outlook isn’t likely to suffice to carry him to a second term, according to the Eurasia consultancy
- Bolsonaro’s government is kicking out the International Monetary Fund’s permanent representative to the country as complaints about the institution’s economic estimates escalated into a diplomatic spat
- Got debt? High inflation is starting to chip away at debts built up during the pandemic
- It’s a big day for central banks:
- The European Central Bank will try to exit emergency stimulus without tightening
- The Bank of England will decide whether to pull the trigger on its first interest rate increase since the pandemic began, weighing a surge in inflation against a surge in coronavirus infections
- Mexico and Colombia’s central banks are expected to increase interest rates again, as inflation accelerates throughout Latin America, the region with the highest average cost-of-living increases this year
- Turkey cut rates, Norway and Hungary hiked, while Switzerland, Philippines, Indonesia, Taiwan held
- China is likely to set a floor for economic growth of 5% next year as it tries to balance a desire to rein in the real-estate sector with the need for stability in a year of crucial political change
- Economists see the PBOC cutting reserve requirement ratios again in the first half of next year as the economy takes a knock from an ongoing property market slump and sporadic Covid outbreaks
- Finally, check out this week’s Stephanomics podcast on the so-called great resignation’s Chinese counterpart
©2021 Bloomberg L.P.
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