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

  • Vice Chairman Richard Clarida said the Fed is on course to announce later this year that it is paring bond purchases and moving on to a liftoff in interest rates in 2023
  • The Bank of Korea may find it hard to go beyond three interest rate hikes when it starts raising borrowing costs, S&P Global Ratings says
  • Investors waiting for a heads-up from the ECB on the future of pandemic bond-buying in September will probably be disappointed
  • The past year suggests that governments are more focused on addressing scarcity in their economies rather than abundance
  • India’s monetary policy makers are likely to leave interest rates untouched as their focus remains more on fixing a fickle economy
  • Treasury Secretary Janet Yellen said that by the end of this year, monthly price changes will be at a level consistent with the Fed’s target. She said proposed spending on infrastructure, child care and education is needed for the U.S. to remain a leading economic power
  • Brazil’s central bank lifted its key interest rates by a full percentage point, and promised another increase of the same magnitude
  • Bloomberg Economics’ wrap of reactions and analysis including the U.S. forecast cut, U.K. CPI surge and Bank of Thailand’s dovish hold
  • Ireland’s Finance Minister Paschal Donohoe predicted that world leaders will agree on a global tax accord
  • Indonesia’s economy is set to grow at the fastest pace since 2010
  • Thailand’s central bank held its key rate and cut its economic forecast a day after lockdown-like measures were extended
  • U.S. companies added far fewer jobs than expected in July, indicating persistent hiring obstacles despite improvement in the economy
  • The U.S. Treasury set the stage for reduced debt issuance
  • The San Francisco Fed has declined to comply with a Pennsylvania Republican’s document request investigating Fed research
  • Boris Johnson issued a rallying cry for institutional investors to plow money into British companies and create a “big bang”
  • The social architecture formed over centuries of White rule has maintained South Africa’s position as the most unequal society
  • The Biden administration has approved its first arms sale to the island democracy of Taiwan, a potential $750 million deal
  • As $1 trillion evaporated from Chinese stocks last week, some investors realized they hadn’t paid enough attention to the country’s most important man: President Xi Jinping

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