Thailand's Federation of Thai Industries estimates industrial-sector flood losses at nearly 6 billion baht.

Reserve Bank of India raised the policy repo rate 25bps to 5.50% on Wednesday, its first increase in nearly four years. The six-member rate-setting committee voted unanimously and the RBI shifted its stance from neutral to moderately tight. The bank cited rising inflationary pressures from an oil-price spike linked to the Iran conflict and reduced monsoon rainfall due to El Nifio, which have squeezed purchasing power and weighed on the currency. The governor said the inflation outlook is no longer benign.

San Francisco Fed President Daly said AI-driven chip demand could spread beyond high-end AI chips into the broader semiconductor market; some firms are already front-loading memory purchases and redesigning products to use fewer chips. She warned AI-related price pressures may not be a one-off and could take longer than the Fed’s typical 1–3 year horizon to subside. Daly said she fully supports a September rate increase; whether further tightening is needed will depend on whether shocks from AI, tariffs and Middle East-driven energy price rises abate — if they persist or overlap, additional hikes may be required, but if they prove temporary further hikes may not be necessary.