Bank of Japan June policy meeting summary: one member said more attention is needed to firms' proactive pricing behavior and the upward pressure it places on overall inflation.

ECB executive board member Escriva said oil prices are beginning to affect other sectors.

China will see above-normal extreme weather during this year’s main flood season, with concurrent drought and flood risks and two distinct north–south rain belts, the Ministry of Emergency Management said. Heavy floods are possible in the Haihe, Songliao, Pearl River, upper Yangtze and lower Yellow River basins; landfalling typhoons may be more frequent and stronger. Northern China is forecast wetter with elevated flood and inundation risk; as the rain belt shifts west and north, parts of the south could transition from flooding to drought, complicating flood control and drought relief. Recent trends show extreme events breaking past patterns: northern heavy-rain events are about 50% more frequent than the 1990s average and their integrated intensity about 50% stronger than the long‑term norm. The northern wet bias and high risk of damaging heavy rain and severe convective storms are expected to persist over the next five years. Global warming is identified as the primary driver and El Niño as an important contributing factor.