Australia's ACCC will monitor fuel prices and market conduct after a partial reinstatement of the fuel excise.

Japan has drafted a blueprint targeting annual real GDP growth of more than 1% and nominal growth of 3% by 2040, roughly double its five-year average. The plan projects cumulative public and private investment above ¥370 trillion (about $2.29 trillion) by FY2040, an annual private-sector capex target of about ¥230 trillion and a GDP level near ¥1,100 trillion. The blueprint centres on strategic public‑private partnerships and directed support for industries the government views as critical to long-term competitiveness to address chronic underinvestment. The government urged the Bank of Japan to maintain growth‑friendly interest‑rate settings, signalling a preference for lower financing costs and raising the prospect of policy friction as the BOJ cautiously withdraws from ultra‑loose policy.

Japan retail sales rose for a third consecutive month in May, up 1.9% MoM and 5.3% YoY, driven by wage gains and STATE AID that have eased household cost pressures. Despite growing concern the Iran war could lift prices, consumer demand remains firm as wage growth has long outpaced inf and subsidies from Prime Minister Sanae Takaichi are helping households sustain spending.