Powell’s Appearance, British Budget, Xi’s Big Plan: Eco Day


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

  • Federal Reserve Chairman Jerome Powell will probably seek to convince suddenly skeptical financial markets on Thursday that the central bank will be ultra-patient in pulling back its support for the economy
  • Separately, the Fed says the U.S. economy expanded modestly in the first two months and sentiment among business owners is picking up as vaccinations bolstered the prospects for economic growth
  • The U.K. government put off steps to tackle the country’s record budget deficit for another two years, focusing on stimulus for a recovery from the coronavirus pandemic
  • Bloomberg Economics says the new U.K. government budget extends significant near-term support to help drive the recovery
  • China begins its biggest political meeting of the year Friday, laying plans that could propel the economy into the world’s biggest this decade
  • A year of border closures and a successful economic recovery is causing Australia to reassess its embrace of globalization
  • There’s nothing like a supply shock to illuminate the tectonic shifts in an industry, which is now laying bare the market power of South Korea and Taiwan firms in the $400 billion semiconductor industry
  • Ukraine must decide whether to raise interest rates to combat quickening inflation or keep them at a post-communist low as another surge in coronavirus cases threatens its economic recovery. Analysts are split
  • The likely extension of Tokyo’s state of emergency is worth the tradeoff against the risk of a renewed uptick in virus cases that could threaten the staging of the Summer Olympics, according to economists
  • Hong Kong disappeared entirely from the latest edition of the annual Heritage Foundation ranking of the world’s freest economies

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