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Welcome to Wednesday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- The U.K. government has wasted opportunities to learn how best to close Britain's regional wealth gap, leaving its “leveling up” agenda at risk of failure, the National Audit Office warned
- Prime Minister Boris Johnson revealed a long-awaited plan to reduce economic inequality in the U.K.
- U.K. retailers raised their prices at the fastest pace in more than nine years, a survey showed
- U.S. job openings rose unexpectedly in December while quits declined slightly, suggesting that worker demand held steady in the month
- But the labor market could be substantially tighter than the 3.9% unemployment rate would indicate, Bloomberg Economics says
- Federal Reserve Bank of St. Louis President James Bullard said he would like to raise interest rates at the central bank's meetings in March and May, but played down the benefits of a larger-than-expected move
- The Biden administration will share more details about its work on an economic framework agreement with Asian nations in the coming weeks, according to a top trade official
- New Zealand's unemployment rate fell to a record low in the fourth quarter amid a labor shortage, adding to signs the economy is overheating
- Japan's Libor transition surge during the second half of last year reflects the success of thorough private sector coordination, according to the Bank of Japan's point man on the move away from the benchmark
- Argentina expects to reach a staff-level agreement on a new program with the International Monetary Fund in the next three to four weeks
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