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

  • The Federal Reserve is expected to use Wednesday’s meeting to cautiously signal a March rate hike, according to Bloomberg Economics’ analysis
  • Oil and gas flows aren’t likely to be significantly impacted from the tensions building in Ukraine, according to Goldman Sachs Group Inc.
  • Worker shortages at U.K. slaughterhouses have left farms with a big backlog of pigs, prompting the industry to call for urgent talks with the government to ease the crisis
  • The German government has pushed for an exemption for the energy sector if there is a move to block Russian banks from clearing U.S. dollar transactions, according to documents seen by Bloomberg
  • U.S. Deputy Treasury Secretary Wally Adeyemo said the U.S. and its European allies have economic sanctions “at the ready” if Russian troops invade Ukraine
  • The last thing Hong Kong wants to do right now is increase borrowing costs -- but it will be forced to when the Federal Reserve starts lifting interest rates
  • Bank of Japan board members aren’t ready to signal any unwinding of stimulus after speculation over possible policy normalization discussions grew in the days leading up to a meeting earlier this month, a record of the gathering showed
  • Investors expect the Bank of Canada will start an aggressive series of interest rate hikes this week as the central bank launches its campaign to wrestle inflation down from a three-decade high
  • Economists predict Singapore’s central bank will tighten policy further at its next scheduled meeting after a surprise move Tuesday to blunt rising inflation risks
  • China’s government spending rose at the slowest pace in nearly two decades last year, suggesting limited fiscal support for an economy that has sharply lost momentum in recent months

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