U.S. Payrolls, Fed Timing, Korea Policy Coordination: Eco Day

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Welcome to Friday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day and send you into the weekend:

  • It’s U.S. payrolls day. Here’s what to expect from the June data.
  • A global tax overhaul is lurching toward widespread agreement with a handful of last-minute hurdles; Ireland is among those still on the sidelines, while remaining committed to negotiations
  • U.K. authorities are pledging to protect consumers against the costs of phasing out greenhouse gas emissions
  • The Federal Reserve probably will need to begin raising interest rates in late 2022 or early 2023 amid high government spending, the International Monetary Fund said
  • South Korea’s finance minister and central bank chief met Friday and pledged tight policy coordination in a bit to reconcile the goals of taming asset bubbles and keeping economic recovery on track
  • Venezuela is preparing again to lop off zeroes from the national currency, with an aim to simplify daily transactions that sometimes barely fit on a calculator
  • Bloomberg Economics takes a look at the week ahead that includes China’s credit and inflation data, besides rate decisions by Reserve Bank of Australia and Bank Negara Malaysia
  • A study by London School of Economics found that Indians want their government to guarantee them jobs instead of handing out cash to see them through the pandemic
  • India’s record forex reserves fall short of the pile held by Switzerland, Russia and Japan on the import cover metric, making a case for the South Asian nation’s central bank to grow its hoard

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