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Welcome to Monday, Europe. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.

  • Britain’s surging coronavirus infection rate is widening a rift between airlines and health authorities over the government’s decision to maintain some of the tightest rules on travel in Europe
  • U.K. house price growth slowed in June as record prices and a lack of properties to purchase drained momentum from the market
  • Prime Minister Boris Johnson is seeking to build the U.K. into a “science superpower,” harnessing 14.9 billion pounds ($21 billion) a year in spending on research and development into solutions for the public good
  • China is tightening its grip on the supply of steel and coal, measures that at the very least run counter to the broader effort to tame commodities inflation
  • The steady fixings for China’s loan prime rates suggest the recent pickup in inflation hasn’t bumped the People’s Bank of China off its steady policy track, with the PBOC expected to stick to its strategy of maintaining stable interest rates and a tight-tilt on liquidity, Bloomberg Economics writes
  • China’s unemployment rate has steadily dropped from last year’s pandemic peak, though a lack of jobs for graduates and a shortage of skilled manufacturing workers point to underlying problems
  • St. Louis Fed President James Bullard said inflation risks may warrant raising interest rates next year. The Fed made some big headlines last week, but for a lot of observers they buried the news
  • While the Reserve Bank of Australia and Commonwealth Bank of Australia share a common heritage, they couldn’t be further apart on the outlook for wages and inflation in today’s economy
  • Saudi Arabia gave a first glimpse of the ambition behind the merger of two of its pension and insurance funds with a plan to rival the world’s largest investors
  • ECB chief Christine Lagarde said the governing council is making “good progress” in talks on the overhaul of monetary policy

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