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

• The Bank of England’s Chief Economist Andy Haldane said the government can afford to end its furlough plan before the U.K.’s recovery is fully complete
• The European Central Bank is emulating its Asia-Pacific peers by controlling government borrowing costs, just in a uniquely European way
• Janet Yellen’s senate hearing suggested the Biden administration will adjust dollar policy, undertake no immediate shift on China strategy and put a new focus on climate change
• The post-Brexit confusion continues. European retailers have blamed Brexit for delivery delays and the extra fees some shoppers are being asked to pay
• Central banks across Asia are starting the year juggling policy reviews and political pressure to do more to support their economies
• Malaysia’s first interest-rate decision of the year is almost too close to call as surging virus cases and a lockdown threaten a recovery
• China is counting on its consumers to bolster the recovery, but households still seem reluctant to part with their savings

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