Britain's Debt Battle, Russia's Rates, Italy's Flat Tax: Eco Day
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Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:
- Britain has a debt problem. With the nation locked in the political hamster wheel of trying to leave the European Union, the risk is that a financial shock from Brexit could tip many people over the edge
- Italy’s populist government is struggling to reach agreement on a tax-reduction plan that could extend the country’s indebtedness and lead to another clash with the EU
- With the Russian central bank all but certain to hold fire at its interest rate decision today, investors are instead watching closely for any hint of easing
- The Federal Reserve’s policy pivot took center stage in a busy week for central banks, with Chairman Jerome Powell declaring too-low inflation “one of the major challenges of our time”
- Fed policy makers have concluded that when in doubt, do no harm. Welcome to the new abnormal
- The Fed is also embracing the views of two occasionally ridiculed doves within its ranks who’ve argued for years that interest rates were heading the wrong way
- Japan’s key inflation gauge crept fractionally lower, before a bigger downturn likely later this year that will further slow the central bank’s long journey to its price target
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