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

• The Bank of Japan is seen sitting tight on policy while adjusting its view of inflation risks Tuesday
  • Additional virus curbs could be introduced more widely in coming weeks in Japan, pointing to downside risk for the economy, according to Bloomberg Economics
• The big unknown: what happens if omicron collides with China’s zero-Covid strategy, pushing the world’s factory back into lockdown?
• The super-infectious omicron variant challenges the view that each Covid wave has a smaller negative impact on the economy
• Even as U.S. companies scramble to fill jobs, the global unemployment rate is expected to remain above pre-pandemic levels
• Treasury Secretary Janet Yellen marked Martin Luther King Day by saying the economy has “never worked fairly for Black Americans”
• Chinese President Xi Jinping called on nations to secure global supply chains and prevent inflation shocks
  • China cut its key rate for the first time in nearly two years
  • Here’s why China is struggling to boost its birth rate
• Global investors are growing more skeptical that Sri Lanka will be able to repay its long-term debt
• Malaysia is set to stand pat this week, Bloomberg Economics says
• Traders are reconsidering an earlier kickoff for the first ECB hike
  • The run of data this week from Europe will see investors turn their attention away from growth and toward inflation
• Brazil analysts raised their inflation forecasts while a gauge of economic activity rose, fueling fresh skepticism over the central bank’s pledge to haul consumer prices back to target
• North Korea said it tested two tactical guided missiles on Monday

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