world economic news

World Economic News – Monday 22/08/2022

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TAIWAN

$2.6tn could evaporate from global economy in Taiwan emergency, sanctions against China would be a double-edged sword writes The Nikkei Asia on Monday (Aug. 22).

CHINA

The People’s Bank of China (PBoC) cut the 1-year Loan Prime Rate (LPR) on Monday from 3.70% to 3.65% and the 5-year LPR from 4.45% to 4.30%, one week after it cut two interest rates in a surprise move. Most new loans in China are based on the one-year LPR.

GERMANY

German Economy Minister Robert Habeck ruled out on Sunday, during a discussion with citizens at the government’s open-door day, extending the lifespan of the country’s three remaining nuclear power plants in order to save gas.

ESTONIA

Estonia’s producer price index rose 28.8% year-over-year in July, after a 33.3% surge in June, figures from Statistics Estonia showed on Monday.