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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help get your day started:

  • President Donald Trump said he was “very happy” with the trade war and that China wouldn’t become the world’s top superpower under his watch
  • Theresa May’s economic legacy is dominated by the same thing that consumed her turbulent premiership: getting Britain out of the European Union
  • All but two of London’s 32 boroughs have seen house asking prices drop as Brexit uncertainty continues to bite in the capital
  • Israel’s second interest-rate increase since 2011 is unlikely to be on the table when the monetary committee meets today after inflation decelerated for the first time this year
  • Central banks in sub-Saharan Africa’s largest economies could start diverging on policy when they make interest-rate calls in the next two weeks after oil prices pushed up inflation
  • The race for the European Central Bank presidency is the most wide open since the institution’s creation, and it’s far from over
  • Switzerland approved an overhaul of the corporate tax code, choosing to stay an attractive base for global business even at the cost of fiscal revenue
  • Australia’s center-right government is getting straight back to business after its surprise election victory, pledging to pass signature tax cuts to shore up a slowing economy
  • Our economists are revising down their forecasts for China’s growth for 2019 and 2020
  • In the span of a week, President Donald Trump escalated a trade war with his biggest strategic rival, ended a steel tariff battle with the U.S.’s closest neighbors, and managed to both prolong and inflame yet another squabble among friends for at least six months
  • The trade war will continue to dominate the world economy’s headlines this week as Trump and President Xi Jinping go toe to toe

To contact Bloomberg News staff for this story: Jeffrey Black in Hong Kong at jblack25@bloomberg.net

To contact the editors responsible for this story: Jeffrey Black at jblack25@bloomberg.net, Karthikeyan Sundaram

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