Fed's GOOLSBEE said supply-demand pressures affect inf more in terms of pace than level.

Westpac chief economist Luci Ellis has brought forward her expectation for a Reserve Bank of Australia (RBA) rate hike to September, saying the governor's comments satisfied the conditions set at the August meeting for further tightening. She acknowledged tactical reasons to delay — August monthly CPI due next day, easing Middle East tensions, potential fuel excise adjustments or a weak jobs print could complicate timing — but judged hawkish signals to carry greater weight. Westpac expects a divided vote at the RBA as members differ on trend productivity, labour supply and the degree of labour-market slack; the underemployment rate has risen sharply.

Refinitiv reported an engineer at Libya's Sharara oilfield said crude output has fallen by about 200,000 bpd, leaving production at roughly 100,000–105,000 bpd.