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Welcome to Wednesday, Americas. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- Federal Reserve policy makers are poised to signal plans on Wednesday for their first interest rate hike since 2018
- Bloomberg Economics expects the Fed to cautiously telegraph a March rate hike and balance-sheet runoff this year
- A barrage of upcoming data on the U.S. economy, wage growth and prices is poised to turn up the temperature of an already-heated debate about the persistence of inflation
- Nearly 8 in 10 Americans expect inflation to increase over the next six months, according to a Gallup poll
- Investors expect the Bank of Canada will start an aggressive series of interest rate hikes
- Bloomberg Economics expects the BoC to hold and says it's likelier to lay the groundwork for an imminent normalization cycle
- Chile's central bank is also in action on Wednesday and could deliver its third straight interest rate hike of 125 basis points, lifting borrowing costs to their highest in a decade
- Bloomberg Economics expects policy makers to maintain the tightening pace from previous meetings
- Indonesia's central bank adopted a more hawkish tone, signaling it's ready to strike early to temper volatility in the rupiah and bond yields as global markets sell off in anticipation of U.S. rate hikes
- Hong Kong will be forced to raise borrowing costs when the Fed starts hiking
- China's government spending rose at the slowest pace in nearly two decades last year, suggesting limited fiscal support for an economy that's lost momentum sharply in recent months
- Bloomberg Economics says a shift in China's regulatory stance on industry could cushion the growth slowdown this year
- The European Central Bank has no need to fundamentally change its assessment of the inflation outlook or accelerate policy tightening, Lithuanian Central Bank Governor Gediminas Simkus said
- Simkus also warned that Europe's economy would suffer a significant blow if tensions escalate further between Russia and Ukraine
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