An employee places genuine Chinese one-hundred yuan banknotes into a counting machine at the Counterfeit Notes Response Center of KEB Hana Bank in Seoul, South Korea. (Photographer: SeongJoon Cho/Bloomberg)

China Retaliates, Whither the Yuan, BOJ Could Stand Pat: Eco Day

(Bloomberg) -- Good morning, Asia. Here’s the latest news from Bloomberg Economics:

  • China confirmed it will impose 25 percent tariffs on an additional $16 billion of U.S. imports from Aug. 23, matching an earlier move from Washington
  • The outlook for China’s currency eventually comes down to economic data -- and those aren’t looking quite as grim as the trade war headlines would suggest
  • Economists now see a lower chance of any further changes to Bank of Japan monetary policy through the 2019 calendar year
  • Almost every prescription for Turkey to rescue its financial markets from meltdown, and its economy from recession, involves the president backing down. He’s not very good at that
  • The U.S. should follow through on gradually raising interest rates to more normal levels, says Richmond Fed chief Thomas Barkin
  • New Zealand’s central bank said it expects to keep interest rates at a record low for another two years as the outlook for growth weakens
  • The U.S. announced new sanctions on Russia for the March nerve-agent attack in the U.K. The ruble tanked

©2018 Bloomberg L.P.