ECB Decision, BOE Hiring, Biden’s Semiconductor Plan: 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:

  • European Central Bank officials will decide Thursday just how much monetary stimulus the euro zone needs as it emerges from coronavirus lockdowns over the summer. Meanwhile, Serbia is expected to keep borrowing costs steady for a sixth straight month
  • Bank of England Governor Andrew Bailey will soon make possibly the most consequential hiring decision of his tenure as he picks a successor to outgoing Chief Economist Andy Haldane, who says central bankers face their most dangerous moment in decades as inflation risks mount
  • President Joe Biden’s blueprint for the U.S. semiconductor industry will need more money and global support to take back chip supremacy and preempt a rival effort from China
  • G-7 leaders will vow to deliver at least 1 billion extra doses of vaccines over the next year to help cover 80% of the world’s adults
  • The U.K.’s rules to define sustainable investing will be more ambitious than the European Union’s recent effort, according to the head of the expert panel advising the government
  • The Federal Reserve’s top brass has cast a skeptical eye on cryptocurrencies, but the central bank may be a surprisingly early adopter of the first Bitcoin-linked junk bond
  • Covid-19 is shattering Europe’s claims to have some of the world’s most livable cities, according to a new ranking
  • The Chinese and U.S. commerce ministers agreed to push forward trade and investment links in their first call since the start of the Biden administration
  • U.K. house-price inflation showed no sign of cooling in May as strong demand and a growing supply shortage added fuel to a red-hot market
  • Japan’s factory-gate prices rose at the fastest pace since the collapse of Lehman Brothers, while the Bank of Korea flagged the risks of inflation quickening at a faster pace
  • The Bank of Canada maintained its key interest rate and pace of bond purchases in a placeholder decision that keeps expectations intact for another reduction in emergency stimulus next month
  • Chile’s Communist contender for president is proposing a radical overhaul, with higher taxes, a revamp of the pension system, more state involvement in the economy and regional cooperation to discourage companies from crossing borders for lower tax rates

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