Missing Wage Gains, Interest Rate Return, U.K. Services: Eco Day

(Bloomberg) -- Good morning Americas. Here's news and analysis from Bloomberg Economics to help get your Wednesday started:

• The weak wage growth that's characterized global labor markets since the financial crisis has hit poorer workers most, compounding inequalities and fueling dissatisfaction, according to the OECD
• After years of super-easy monetary policy that included bond buying, interest rates are making a comeback in central banks' tool kits, according to the ECB's Chief Economist Peter Praet
• Yutaka Harada, a Bank of Japan board member, pushed into the land of myth, arguing the central bank's critics seem to be afraid that “the economic gods will vent their anger over QQE”
• The U.K.'s dominant services sector grew at the fastest pace in eight months in June, driving a bounce back in the nation's economy and boosting the case for a Bank of England rate increase as soon as next month
  • Meanwhile, the euro area's services sector expanded at a faster pace than initially estimated, helping spur a pick-up in the bloc's growth momentum
• China's central bank is caught in a bind, as it seeks to tighten monetary policy for some parts of the economy while loosening it for others

To contact the reporter on this story: David Goodman in London at dgoodman28@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net

©2018 Bloomberg L.P.

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