German inflation surpassed the target set by the European Central Bank for the euro zone in June, the second month in a row it has done so, lending support to the ECB’s decision to close its bond purchase scheme at the end of the year. Data published by the Federal Statistics Office on Thursday showed that EU-harmonised German consumer prices rose 2.1 percent year-on-year. The same measure had increased by 2.2 percent in May. The yearly figure matched a Reuters forecast. Source Euronews
Jay Powell, the Federal Reserve Chairman, has banned any public appearances by any member of the Fed, Cockburn hears. Appearances at conferences have been canceled, all scheduled interviews have been abandoned and any comments on or off the record are outlawed. Source spectator.us
India’s passenger vehicle industry suffered its worst sales performance in nearly 19 years in July as a slowing economy, higher ownership costs and floods in some states deterred buyers. Source Live Mint
- On Wednesday the U.S. Department of Commerce added China General Nuclear Power Group, the nation’s largest state-owned nuclear company, to the “entity list.”
- That means American companies are now barred from selling products to any company on that has been blacklisted.
- Beijing responded by saying that “most Chinese companies have already prepared for the worst since the onset of the trade war.” Source CNBC
