Archives of “April 11, 2022” dayrss
The CPI is up but is not at levels that’ll act as a constraint on the People’s Bank of China should they wish to cut rates further. The next loan prime rate setting is due on April 20.
CPI % y/y
- expected 1.2%
- prior 0.9%
- for the m/m flat at 0.0% change
PPI 8.3% y/y
- expected 7.9%
- prior 8.8%
- +1.1% m/m
- higher than was expected but below the February results
more to come
For April 10:
- 25,173 new asymptomatic cases
- 914 new symptomatic cases
Please note – the People’s Bank of China LPR rate-setting meeting is on Wednesday, April 20. The Bank could very well eye the dire COVID-19 situation as a reason for another rate cut.
People’s Bank of China Governor Yi Gang
- US officials said Nato membership for both Nordic countries was “a topic of conversation and multiple sessions” during talks between the alliance’s foreign ministers last week attended by Sweden and Finland.
- Finland’s application is expected in June, with Sweden expected to follow.
The trigger for Huawei’s decision to stop taking orders and move to close its Russian office is fear of secondary sanctions by the US (Forbes with that take).
- Huawei halved supply of phones to Russia in March
- Huawei has sent part of the employees of the Russian office on vacation for a month
Huawei’s withdrawal will have an impact on the maintenance of existing projects, and on future projects under development.
The French election (round 1 of the Presidential election) was the catalyst and, as warned in the post for those getting all excited for the EUR, the gap was likely to fill … and here we are.