Global Central Banks, U.K. Services, Nafta Drama: Eco Day

(Bloomberg) -- Good morning Americas. Here’s the latest news from Bloomberg Economics to help get your Wednesday started:

• Global central banks are gradually withdrawing easy monetary policy a decade since they began racing to the rescue of a world economy skidding into recession
  • The Federal Reserve is leading the way out, and Chicago Fed President Charles Evans told Bloomberg TV Wednesday that he’s “quite comfortable” with the prospect of another interest-rate hike in December
• Growth in the U.K.’s dominant service sector was strong enough to keep the economy on track for a “robust” expansion in the third quarter, IHS Markit said in a report Wednesday
• The trade accord between the U.S. and Canada finally came together Sunday night as both sides blinked just in time. Bloomberg reporters are here to take you through the 72-hour push that capped 13 months of glacial negotiations
• Italy’s government will bow to European Union pressure to reduce its budget deficit to 2 percent of gross domestic product in 2021, reversing plans to maintain a bigger shortfall for the next three years, Corriere della Sera reported, citing a Cabinet meeting
• Finland’s Olli Rehn joined key European Central Bank decision-makers including Benoit Coeure in stressing the need for flexibility in preparing investors for eventual increases in borrowing costs
• Australia’s currency is delivering the interest-rate cut for the economy that the central bank has proven unwilling to provide
• Expectations for Argentina’s economy deteriorated last month amid a central bank leadership shakeup and a revised IMF deal aimed a propping up the government’s finances
• Finally, here’s a Bloomberg Economic analysis of how inequality has risen and why it matters

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editors responsible for this story: Paul Gordon at pgordon6@bloomberg.net, Joanna Ossinger

©2018 Bloomberg L.P.