U.K. Budget, Yellen Backs Powell, U.S.-China Talks: 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.
- U.K. businesses want Chancellor of the Exchequer Rishi Sunak to do more to spur investment and ease the burden of taxation when he delivers his budget Wednesday; the U.K.’s public sector pay freeze is expected to come to an end next year
- European Central Bank officials have some convincing to do about their commitment to rock-bottom interest rates
- U.S. Treasury Secretary Janet Yellen defended Fed Chair Jerome Powell’s record on regulating the financial system amid attacks by progressives seeking to deny him a second term
- Betting price gains will be transitory is risky, according to Bloomberg Economics’ analysis of the drivers of the current bout of U.S. inflation and the the Fed’s growth forecasts
- The governments of the U.S. and China made some incremental progress on economic and trade talks, with Chinese Vice Premier Liu He and Yellen holding their second call in about four months
- China’s economy is showing signs of a further slowdown with car and housing sales dropping again this month even as exports continue their strong performance
- Fears in Italy are growing that the world’s oldest bank will become an even deeper money pit for Prime Minister Mario Draghi’s administration
- Riksbank Governor Stefan Ingves and his deputy hold stock in Swedish firms whose bonds have been bought by the central bank
- From factories to facilities to fashion cutting-edge components, France’s efforts to lure industry back are paying dividends
- South Korea said it will tighten the screws on borrowers with the introduction of wider borrowing restrictions to curb rising household debt, which the government calls the economy’s “largest potential threat”
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