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Welcome to Thursday, Europe. Here's the latest news and analysis from Bloomberg Economics to help you start the day:
- The Bank of England is on the verge of a historic decision to deliver the first back-to-back interest-rate increase since 2004
- The European Central Bank is set to decide how to respond to an inflation shock that's prompted traders to ramp up bets on interest rates being lifted
- ECB policy makers got a nasty surprise the day before this week's decision as inflation in the euro region unexpectedly surged again to the fastest pace since the creation of the single currency
- The Czech Republic is poised to make a last, unusually large increase in interest rates before slowing one of Europe's most aggressive campaigns to fight inflation
- Britons are about to discover how much living costs are set to rise, how painful the squeeze on incomes will be and what the government plans to do about it
- U.S. Treasury Secretary Janet Yellen defended the Biden administration's stimulus package that many blame for fueling inflation, though she conceded that describing rising prices as “transitory” was a mistake
- All three of President Joe Biden's nominees to join the Federal Reserve said they placed a high priority on tackling U.S. inflation
- Turkey's inflation rate likely accelerated to a near 20-year high in January, propelled by rising energy prices and President Recep Tayyip Erdogan's push for lower borrowing costs
- The International Monetary Fund agreed to resume a $6 billion loan to Pakistan, marking progress in a program that's been moving in fits and starts since 2019
- Pakistan, which has sought almost 20 bailouts from the IMF over half a century, wants to end its reliance on the multilateral lender
- Brazil's central bank signaled the world's most aggressive monetary tightening cycle is closer to an end after delivering its third straight interest rate hike
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