Bank of Japan July meeting summary: a member said rising oil prices passing through to consumer inflation, strong global AI-driven demand and Japan’s expansionary fiscal policy boosting demand present substantial upside risks to the inflation outlook.

Economists and traders expect the Reserve Bank of Australia to keep the cash rate at 4.35% at Tuesday’s meeting — a second consecutive hold — while reiterating readiness to tighten further to combat persistent inflation. Markets will focus on the policy statement and updated quarterly forecasts for signals on whether the RBA has finished hiking after 75bp of moves this year or intends further tightening. Carl Ang, fixed income research at MFS Investment Management, says a hawkish pause is the base case but slow disinflation means additional tightening cannot be ruled out. Economists broadly expect an extended pause through the remainder of this year and most of next; Commonwealth Bank’s Belinda Allen expects the RBA to bring forward the forecast for inflation falling below 3% and to lift its unemployment projection.

也門政府：我們譴責胡塞武裝對摩卡港發動的恐怖襲擊。