(Bloomberg) -- Happy Friday, Europe. Here’s the latest news from Bloomberg Economics:

  • The Italian parliament voted in favor of the populist government’s fiscal outline, including a higher deficit target for 2019 which has unsettled markets and been sharply criticized by the European Union
  • The Bank of England’s Brexit assumptions are looking increasingly doubtful as the clock ticks down to the U.K.’s departure date
  • President Trump’s 24-hour bashing of the Fed is unlikely, for now, to shake the central bank’s standing among its two key constituencies that matter more: financial markets and Congress
  • Trump said the Fed was "so tight" -- but here’s why the central bank actually still looks pretty loose
  • The U.S. Treasury has advised Secretary Steven Mnuchin that China isn’t manipulating the yuan as the Trump administration prepares to issue its report on foreign currencies, say people familiar with the matter
  • Here’s a QuickTake looking at the Monetary Authority of Singapore, which uses the exchange rate -- not interest rates -- as its main policy tool
  • Tom Orlik discusses how the global swing from quantitative easing to tightening -- set to begin in earnest in October -- promises to be nowhere near as dull as expected

To contact the reporter on this story: Connor Cislo in Tokyo at ccislo@bloomberg.net

To contact the editors responsible for this story: Brett Miller at bmiller30@bloomberg.net, Henry Hoenig

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