1. The New Zealand Federal Reserve suspended interest rate hikes, in line with market expectations, and kept interest rates at 5.50%, the highest level since October 2008. Prior to this, the New Zealand Federal Reserve has raised interest rates 12 times since August 2021. RBNZ: Restrictive interest rates will bring CPI back to target level. It is expected that interest rates will need to remain tight for some time to come.
2. European Central Bank Governing Council Villeroy: Inflation will continue to decline and will return to 2% in 2025. We are already close to peak interest rates.
3. Lowe, Chairman of the Reserve Bank of Australia: We are currently facing a complicated situation, and there are major uncertainties in the outlook. Further policy tightening may be required in the future to bring inflation back to target.
4. Goldman Sachs: The US core PCE forecast for December 2023 was lowered to 3.5% from the previous 3.7%.
5. Bank of England Financial Stability Assessment Report: Raising interest rates will increase the risk of banks. The capital and liquidity positions of the UK’s major banks remain strong and profitability has increased.
6. South Korea will allow overseas financial companies to participate in the local foreign exchange market in Q4.
7. According to Interfax: The Central Bank of Russia will start trialling the digital ruble for real customers in August.
8. Market news: The Vietnamese government seeks to reduce bank lending rates by 1.5-2 percentage points.
9. Central Bank of Kazakhstan: As of June, Kazakhstan’s net gold and foreign exchange reserves were US$32.185 billion, a decrease of 3.9% from the previous month.
10. USD/CHF fell below 0.88 against the Swiss franc for the first time since January 2021.