新西兰联储首席经济学家保罗·康威：过去一周中东局势的发展表明，我们对九月份季度预测存在上行风险。

Quarter-beginning tax payments and a rise in government bond net redemptions are set to tighten liquidity this week. July tax receipts historically run about RMB1.7–1.9 trillion (2021–25); government bond net repayments have risen to RMB568.7 billion, producing a combined funding shortfall exceeding RMB2.2 trillion. The PBOC is likely to step up reverse-repo injections to cushion money markets; a RMB900 billion six‑month buyout reverse repo matures this week, leaving scope for net injection. Overnight reverse repos may be reintroduced to smooth short-term volatility—the tool was used at quarter-end on June 29–30 (RMB300 billion and RMB600 billion) to blunt rate spikes.

Financial Times reports serious divisions within the Bank of England's MPC, making it harder for the central bank to rebuild credibility after five years of inflation above target.