State Dept official said the US expects American companies to play an important role in advancing reconstruction of the Iraq–Syria oil pipeline.

Markets widely expect the Bank of Korea to raise rates by 25bp on Thursday, shifting attention to any signals of further tightening. KB Financial Group analyst Lim Jae-kyun says the BoK could deliver two hikes this year, with a further move likelier in October than consecutive hikes in July and August. Hanwha Investment & Securities analyst Kim Sung-soo says the MPC meeting may adopt an overall hawkish tone; markets will watch for upward revisions to growth forecasts and wording on the pace of additional hikes. NH Investment & Securities analyst Kang Seung-won expects the BoK may avoid providing a specific timetable for further hikes to limit the risks of forward guidance.

Federal Reserve Chairman Kevin Warsh said the Fed aims to achieve price stability and has the tools to do so.