London's Falling, Trump's Tax Cuts, Indonesian Rates: Eco Day

(Bloomberg) -- Welcome to Tuesday, Europe. Here’s the latest news from Bloomberg Economics:

  • As the countdown to Brexit continues, the pound’s inevitable sharp move on the final outcome will have big implications for Bank of England policy
  • At the same time, London’s housing market is in bad shape -- possibly even worse than it looks on paper
  • Meanwhile in Italy, Confindustria, the nation’s main employers’ lobby, said the 1.5 percent expansion for 2019 targeted by the populist coalition “seems very improbable”
  • It’s not all gloom. Despite a slump in equities and gains in the dollar, few economists are concerned that broad financial conditions will strangle the second longest U.S. expansion on record
  • Bulls will be further buoyed by President Donald Trump’s remarks that Congress will vote on a new tax cut for middle-class Americans after the midterm elections
  • In central bank news, Indonesia may be ready to hit the pause button after five interest-rate hikes and measures to curb the current-account deficit start to pay off

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