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The Reserve Bank of New Zealand unanimously increased the official cash rate by 25 basis points from 2.25% to 2.50%, citing persistent non-tradables inflation and recent easing in financial conditions. It said further tightening appears likely, but timing will depend on incoming data, pricing behaviour and spare capacity.

Economy · 20 days ago

Thailand June CPI Slows to 2.42%, Below Forecast and Inside BOT Target Range

Thailand’s headline CPI rose 2.42% year on year in June, slowing from 2.79% in May and coming in below market expectations. Core inflation was 1.23%, while the reading stayed within the Bank of Thailand’s 1%-3% target band. The Commerce Ministry kept its 2026 inflation forecast at 1.5%-2.5%.

Economy · 25 days ago

June factory PMIs show output holding up as Middle East conflict keeps costs and supply delays elevated

Manufacturing remained in expansion in the euro zone at 51.4, Japan at 54.8 and South Korea at 52.1 in June, while survey reports cited higher energy costs, shortages and shipping delays. Several PMI surveys were largely compiled before the June 17 U.S.-Iran ceasefire memorandum, limiting visibility on post-ceasefire conditions.

Energy & Commodities · a month ago

ScottishPower asks Ofgem to ringfence and refinance part of UK household energy debt

ScottishPower said households deemed unable to repay account for about one-third of sector debt and proposed pooling that portion for bank financing, with repayment spread over roughly 10 years. Ofgem reported domestic debt and arrears of £4.79 billion in Q1 2026, before a 13% price-cap increase from July 1.

Technology · a month ago

BIS says AI capex surge could turn into financing pullback if returns fall short

In its June 2026 annual report, the BIS said the five largest hyperscalers are set to spend more than $1 trillion on AI capital expenditure in 2025-2026, with commitments exceeding earnings and, in some cases, free cash flow. The report said weaker returns could trigger financing retrenchment, wider credit stress and tighter financial conditions.

Central Banks & Policy · a month ago

Moody’s keeps India at Baa3/stable, sees room for a wider FY27 fiscal deficit on temporary energy-price pressure

Moody’s said India’s investment-grade rating and stable outlook are not at risk if the fiscal deficit for the year ending March 2027 rises to about 4.8% of GDP from the budgeted 4.3%, citing temporary energy-price pressure, 6% growth expectations and post-pandemic fiscal consolidation, while noting elevated debt-service costs.

Central Banks & Policy · a month ago

ECB's Kazaks Says Gradual Steps Are Preferable to a Rapid Run of Rate Hikes

ECB Governing Council member Martins Kazaks said there is no near-term need for the central bank to deliver several rate increases in quick succession. Reported comments indicated he prefers a patient meeting-by-meeting approach as new data arrive, following the ECB’s June 25 basis-point rate increase amid elevated uncertainty.

Energy & Commodities · a month ago

Official 2026 El Niño forecasts raise fresh risk for Brazil’s rice-growing south

Brazil’s official forecasters and NOAA see a high probability of El Niño developing in the second half of 2026, a pattern linked to wetter conditions in the South. Rio Grande do Sul, which produces about 70% of Brazil’s rice, is still dealing with 2024 flood losses, silo damage and production costs that exceeded May 2025 paddy prices.

Economy · a month ago

Spain Revises 2026 GDP Outlook to 2.6% in Budget-Planning Update

Spain’s Economy Ministry increased its 2026 growth forecast to 2.6% from 2.2% and said output should remain above 2% through 2029 in an updated macro framework required for the 2027 budget. June inflation was reported at 3.2%, with higher electricity and gas prices offset by lower motor fuel prices.

Central Banks & Policy · a month ago

BIS 2026 report highlights risks from inflation, AI spending, public debt and bond-market leverage

In its June 28 Annual Economic Report, the BIS said more frequent supply shocks could reaccelerate inflation, the AI capex surge could reverse, stretched valuations and fragile core bond-market liquidity leave markets exposed, and near-record public debt with greater non-bank intermediation could transmit sovereign stress faster and widen policy trade-offs.