(Bloomberg) -- Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast.

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

  • European Central Bank officials will outline how their new inflation goal affects their intentions for future monetary policy, with President Christine Lagarde holding a virtual media briefing after the decision
  • President Joe Biden dismissed concerns that the U.S. would experience persistent inflation as the economy emerges from the pandemic
  • The European Union’s refusal to renegotiate the Brexit deal governing Northern Ireland has put the bloc on a fresh collision course with the U.K.
  • Britain’s public finances could take a hit from the a permanent shift toward working from home, the government’s independent budget watchdog said
  • Ukraine is set to leave interest rates untouched for a second month after inflation stabilized, albeit at the highest level in Europe behind Turkey
  • Spain is on track to be one of the fastest-growing economies among developed countries as the post-pandemic recovery accelerates, Prime Minister Pedro Sanchez said
  • Federal Reserve Chair Jerome Powell enjoys broad support for his renomination among top White House advisers, according to people familiar with the matter
  • China and the U.S. are shipping goods to each other at the briskest pace in years, making the world’s largest bilateral trade relationship look as if the protracted tariff war and pandemic never happened
  • Australia’s iron ore shipments climbed to a record last month in a welcome respite for an economy under siege from lockdowns that span half the country and weighed on the latest payroll data

©2021 Bloomberg L.P.