ECB’s Plans, U.K. Inflation, Supply-Chains Podcast: 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 European Central Bank is studying a new bond-buying program to prevent any market turmoil when emergency purchases get phased out next year, according to officials familiar with the matter
- A warning buried deep in Bank of England policy documents two weeks ago -- indicating that interest rates could rise as early as this year -- is now becoming a more distinct possibility. Bloomberg Economics looks at how bets on when the Bank of England will lift interest rates have shifted markedly in recent weeks
- Local councils in England face a funding crisis unless they significantly increase taxes and the government provides billions of pounds in extra funding, the Institute for Fiscal Studies said
- Democrats signaled they’d take up Senate Republican leader Mitch McConnell’s offer to raise the U.S. debt ceiling into December
- Travel during China’s “Golden Week” national vacation was down by a third compared to pre-pandemic levels, with government measures to contain sporadic coronavirus outbreaks prompting people to spend their holidays closer to home
- Treasury officials are debating whether the U.S., the International Monetary Fund’s largest shareholder, should ask Managing Director Kristalina Georgieva to resign amid an ethics scandal, people familiar with the situation said
- Serbia, the first country in Europe to slash rates at the start of the pandemic, is again an outlier as weak underlying inflation eliminates pressure to raise interest rates
- This week’s Stephanomics podcast looks at why global supply chains have become so snarled
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