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

  • An unexpected jump in U.S. wages has given financial markets a new reason to worry that higher inflation may be here to stay
  • Central bankers are at their most dangerous moment in decades, with the risk of a “bad mistake” if they don’t act to quell accelerating inflation, BOE chief economist Andy Haldane says
  • A surge in China’s May factory-gate prices, and an undershoot in consumer prices relative to expectations, show pass-through remains limited, Bloomberg Economics says in this wrap of its research
  • G-7 leaders will vow to deliver at least 1 billion extra doses of vaccines over the next year to help cover 80% of the world’s adults
  • The Bank of Japan is seen standing pat next week, while tinkering on the margins of its toolkit by extending aid for pandemic-hit firms. Meantime, the government in Tokyo has reintroduced a reference to reaching a balanced budget by the year ending March 2026
  • Rich nations are bracing for China to seek exemptions from a global minimum corporate tax, in a potential stumbling block to a deal
  • The Bank of Canada maintained its key interest rate and pace of bond purchases in a placeholder decision that keeps expectations intact for another reduction in emergency stimulus next month
  • Chile’s Communist contender for president is proposing a radical overhaul, with higher taxes, a revamp of the pension system, more state involvement in the economy and regional cooperation to discourage companies from crossing borders for lower tax rates
  • Tomato sauce on your spaghetti may be harder to come by amid a global shortage of steel sheets to make cans for food production
  • Covid-19 is shattering Europe’s claims to have some of the world’s most livable cities, according to a new ranking
  • Japan’s difficult choice between the economy and the pandemic is the headline topic in this week’s Podcast
  • Sudan wants to lure private investment into its gold industry to help revive an economy shattered by years of conflict and dictatorship

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