RBNZ: Near-term inflation expectations have eased as current oil futures pricing is materially below the assumptions in the May statement.

The Defense Ministry said PLA Navy submarine-launched strategic missile test achieved its intended objectives as part of routine annual training. The ministry said the exercise complied with international law and norms and that Beijing notified relevant countries in advance. It reiterated China follows a peaceful development path and a defensive nuclear policy, adheres to a self-defense nuclear strategy, maintains nuclear forces at the minimum level necessary for national security, will not engage in a nuclear arms race, and is modernizing its nuclear forces to protect national strategic security and uphold global strategic stability.

Bank of England said AI-related companies now account for a larger share of equity market valuations and debt issuance.