IMF’s Credibility, U.K. Policy Risk, ECB Bribery Charge: Eco Day

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

• Kristalina Georgieva held on to her job as head of the International Monetary Fund. Now she faces the potentially bigger challenge of saving the institution’s credibility
• The U.K. is at risk of making two policy mistakes as the central bank and treasury prepare to reduce stimulus
• Peter Kazimir, a member of the European Central Bank’s Governing Council, was charged with bribery in Slovakia
• U.K. Chancellor of the Exchequer Rishi Sunak is using his first official visit to the U.S. to urge major economies to collaborate on the supply disruptions hampering global growth
• As the Biden administration and governments around the world celebrate another advance toward an historic global tax accord, an obscure legal question in the U.S. threatens to tear it apart
• The U.S. has submitted a new proposal to the European Union to solve a Trump-era dispute on steel tariffs, offering more-generous terms, according to people familiar with the matter
• Atlanta Fed President Raphael Bostic said this year’s inflation surge is lasting longer than policymakers expected, and it’s not appropriate to refer to the price increases as transitory
• The House of Representatives approved a short-term increase in the U.S. government debt limit Tuesday, sending the legislation to President Joe Biden just days before the Treasury was at risk of running out of borrowing authority
• China’s economic slowdown is putting the spotlight back on fiscal stimulus -- but Beijing isn’t opening the spending taps just yet
• China’s export growth accelerated in September, defying expectations of a slowdown amid a nationwide power crunch that forced factories to cut production
   

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