1. The Federal Reserve's July policy meeting: Interest rates remained unchanged at 3.5%-3.75%, with three regional Fed voting members supporting a rate hike. The overall statement remained unchanged. Warsh declined to call this meeting a "hold-off," stating that financial markets continue pricing, and the Fed will closely observe market pricing but will not act accordingly. Warsh indicated that the Fed will not hesitate to act if necessary and appropriate. The withdrawal of forward guidance will require a transition period, and there will still be a press conference at the end of the year. There is no soft inflation target; the only target is 2%.
2. South Korea's Ministry of Finance: Will restrict leveraged ETF trading, increasing related transaction costs.
3. Due to rising oil prices, Japan lowered its 2026 fiscal year economic growth forecast from 1.3% to 0.9%.
4. A senior official of Japan's Liberal Democratic Party stated that Prime Minister Sanae Takaichi has ordered a reduction in the national sales tax rate on food from 8% to 1%.
5. Demand for Japanese two-year government bonds was weaker than the 12-month average due to widespread market expectations that the Bank of Japan will tighten monetary policy.
6. Bank of England: UK consumer credit grew 9.1% year-on-year in June, the largest year-on-year increase since July 2018.
7. Sberbank of Russia: Russian inflation is projected to be 6.5%-7% in 2026.
8. Philippine exports hit a record high due to strong demand for electronics and a weaker peso.
9. India's July economic report: The Gulf stalemate continues, with inflation, fiscal deficits, and current account deficits facing upside risks, and economic growth facing downside risks.
