OECD urges France to restore pension reform tying statutory retirement age to life expectancy.

National Bureau of Statistics data show China’s non-manufacturing business activity index rose to 50.2 in June, up 0.1 ppt from May, indicating a modest rebound. By sector, construction was 49.0, up 0.2 ppt, and services 50.4, up 0.1 ppt. Within services, telecom/broadcasting/satellite transmission, internet software and IT services, monetary and financial services, and insurance recorded activity indexes above 55.0; air transport and real estate remained below the 50 threshold.

ECB officials said inflation risks from the US‑Iran flare-up remain unresolved even as hostilities have largely subsided. Speaking at the ECB’s annual seminar in Portugal, from LANE to a Dutch central bank official they signalled vigilance rather than an explicit call for further hikes. LANE said: “We need to watch how the past four months’ energy cost rises feed into food and services inflation. We are committed to assessing meeting‑by‑meeting to avoid tying our hands by prematurely signalling rate decisions.” Officials kept a cautious tone ahead of the next policy decision just over three weeks away.