Powell on Omicron, Bundesbank Shortlist, China PMIs: Eco Day
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Welcome to Tuesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:
- The advent of the omicron variant of the coronavirus risks posing new challenges for central bankers, as evidenced by Fed Chair Jerome Powell’s remarks
- Bloomberg Economics expects the Fed to announce at its December meeting an acceleration in the pace of asset-purchase reductions. Also on U.S. inflation, read how Atlanta has become the epicenter of the country’s inflation surge
- Olaf Scholz’s Social Democrats have narrowed their shortlist on who to name as Bundesbank president to four candidates
- Germany’s new government wants to reinvent the economy, but its small steps toward loosening strict limits on borrowing are likely to fall short on what’s needed to achieve that ambition
- China’s factory activity improved in November as the impact of a power crunch subsided and more working days in the month helped to boost output
- Turkey’s economy probably expanded at a faster pace than most peers in the third quarter, but soaring inflation and a slump in the lira pose a threat to incomes
- Japan’s factory production edged up in October, following a three-month slide, adding to signs that the global supply chain crunch may have been easing before the emergence of the omicron variant
- Australia’s economy probably posted its second-largest contraction on record as businesses were forced to shutter and states sealed borders to try to contain a raging delta outbreak
- Read the latest on what sandwich demand is telling us about the U.K. recovery
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