Bank of England Warning, Powell’s Path, Xi’s Crises: Eco Day
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Welcome to Thursday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- Two Bank of England policy makers warned that the fallout from the attack on Ukraine will upend the outlook for the U.K. economy, which had started to recover from the coronavirus pandemic
- The conflict in Ukraine could knock $1 trillion off the value of the world economy and add 3% to global inflation this year
- Russia's trade links highlight heightened risks faced by European economies, Bloomberg Economics says
- Russia's narrow path to IMF cash hinges on Chinese authorities
- It's unclear how foreigners will be able to access cash after Russia's ban on transfers to foreign investors
- Russian consumers are more resigned than panicked as they are forced to adapt to a new way of life
- Fed Chair Jerome Powell is making the fight against inflation his top priority over the risks from Russia's invasion of Ukraine
- It is now all but a done deal that the FOMC will raise rates by 25 basis points in March, Bloomberg Economics says
- Chinese President Xi Jinping has spent much of the past decade focused on stability. But as he lays the ground for a likely third term as leader, he's facing more crises than ever, both at home and abroad
- Hong Kong's purchasing managers' index, a measure of economic activity, plunged to the lowest level since April 2020 as the city struggles to get its worst virus outbreak under control
- Japanese Prime Minister Fumio Kishida is set to announce Thursday that his government will raise a cap on daily arrivals from overseas to 7,000 from the current 5,000, Jiji Press said
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