RESERVE BANK OF AUSTRALIA Governor BULLOCK said policy needs to address inflation's second-round effects.

The European Commission on Monday proposed rules requiring European data centers to disclose energy and water-use efficiency. The EU aims to triple data center capacity over the next seven years to support rapid AI growth and reduce reliance on large U.S. tech firms. Unchecked consumption by large facilities could strain European grids, increase water use and push up CO2 emissions. The proposal would set an EU-designed labeling and rating system to raise transparency; it would not cap energy or water use or require disclosure of total electricity consumption, but would require operators of data centers with capacity ≥500 kW to report efficiency metrics under the label. The label could serve as a precursor to mandatory minimum efficiency standards that the EU is currently drafting.

Naftogaz said Ukrainian oil and gas company UKRNAFTA will be able to supply and process Ukrainian crude at Central European refineries.