U.S. to Engage China, IMF Warns Zambia, Pret Index: 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 Biden administration will directly engage with Beijing in the coming days to enforce commitments in their trade deal
- Meanwhile, President Joe Biden warned that the U.S. is at risk of breaching the limit on its debt
- Chancellor of the Exchequer Rishi Sunak may be touting a recovery in the U.K.’s job market, but his latest spending pledge shows he’s still concerned about a spike in unemployment now his furlough plan has ended, according to Goldman Sachs Group Inc.
- Romania is moving toward its first interest-rate increase since 2018, following nearby countries that are already locked in a battle with surging prices
- The International Monetary Fund said Zambia needs to quickly restore macroeconomic, fiscal and debt stability
- For the first time since the pandemic, Bloomberg’s Pret Index showed that Pret A Manger Ltd.’s sales of lattes were halfway back to the typical level before Covid-19 at stores near Wall Street last week, a sign that several banks are moving forward with plans to re-staff offices in October
- U.S. politicians are locked in a huge fight over something that more and more people in the financial world view as irrelevant
- Here’s a wrap of Bloomberg Economics’ reactions and analysis including high frequency data showing the U.S. steadying
- American officials are pushing the Singapore government to open a travel lane so visitors from the U.S. can enter the city-state with the same sort of freedoms travelers from Singapore get in the U.S.
- Australia’s central bank kept its monetary settings unchanged, betting there’s enough stimulus to foster an economic recovery
- New Zealand’s central bank on Wednesday expected to embark on a series of interest-rate increases to tame inflation and rein in soaring house prices
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