ECB Executive Board member Wunsch said policymakers may need one more rate hike.

The Ministry of Industry and Information Technology and seven other ministries issued implementation opinions to promote high‑quality industrial internet development, urging enterprises to adopt 5G/5G‑A, time‑sensitive networking (TSN), industrial optical networks, edge computing, information modeling and open automation. The plan upgrades the "5G+ industrial internet" 512 project, calls to optimize industrial 5G spectrum supply and to adjust telecom business licensing rules to facilitate industrial 5G standalone private network deployment. It supports active, orderly construction of industrial 5G standalone private networks and deep cooperation between industrial firms, carriers and equipment manufacturers to reduce network deployment costs. The notice also encourages deployment of industrial equipment with embedded advanced communications modules to strengthen data collection and connectivity, pushes equipment renewal in key sectors to raise device connectivity rates, and calls for wider IPv6 adoption by accelerating software and hardware IPv6 upgrades and application innovation on industrial internet platforms.

Germany real retail sales rose 1.1% MoM in May, versus 0.0% expected and -0.3% in April.