U.K. Jobs Plan, Hong Kong Peg, Supply Chain Managers: Eco Day

Welcome to Wednesday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the day:

  • U.K. Chancellor of the Exchequer Rishi Sunak is set to unveil a 2 billion-pound ($2.5 billion) program to pay the wages of more than 200,000 young workers as he tries to pull the economy out of a deep slump
  • The threat of U.S. action to undermine Hong Kong’s U.S. dollar peg is highly unlikely to become reality given the practical difficulties of pursing such a path, economists say. David Qu writes why the peg is as solid as ever
  • Boris Johnson warned Germany’s Angela Merkel that the U.K. is ready to do without a trade deal if the European Union wasn’t prepared to compromise
  • Accustomed to crunch time and performing in a crisis, the world’s supply chain managers are having something of an extended moment in pandemic recovery mode
  • Christine Lagarde signaled the European Central Bank will keep policy unchanged at its next meeting after its massive emergency stimulus helped calmed markets
  • Fed Vice Chairman Richard Clarida said officials would likely turn to additional forward guidance and asset purchases if the economy needs more aid, as another official warned of the risk from rising Covid infections
  • Bank of England Chief Economist Andy Haldane says the U.K. economy is facing the greatest uncertainty he has seen in his three-decade career
  • “Superstar” cities aren’t all they’re cracked up to be, especially for Black male college graduates, says a new study from Massachusetts Institute of Technology
  • India’s government is running out of options to fund its budget and may soon have to knock on the central bank’s door once again for support

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