1. The Bank of Japan maintained the benchmark interest rate at a historical low of -0.1%, and the 10-year government bond yield target at around 0%, in line with market expectations.
2. The Swiss government believes that international inflationary pressures remain high and there are obvious economic risks.
3. Zimbabwe’s currency exchange rate has “dived”, and the government has introduced measures to restrict foreign exchange transactions: all payments to foreign countries will be charged a 1% fee, with a maximum of 50,000 US dollars.
4. On June 15 local time, the Eurogroup meeting was held in Luxembourg. The meeting mainly discussed issues such as the financial policy of the euro zone in response to economic challenges, deepening the capital market union, and evaluating the progress of the digital euro project. The International Monetary Fund (IMF) will also be involved in the discussions.
5. Pakistani Finance Minister Dar: The International Monetary Fund hopes that Pakistan will liberalize the foreign exchange market.
6. The European Central Bank raised interest rates by 25 basis points as scheduled, the eighth consecutive rate hike, and borrowing costs have since risen to a 22-year high. The economic forecast for this year and next has been lowered, and it is expected to grow by 0.9% in 2023, 1.5% in 2024, and 1.6% in 2025. It is expected that inflation will remain at an excessively high level for too long, and underlying inflation is still strong, raising inflation expectations for the next three years. Will ensure that interest rates reach sufficiently restrictive levels to signal further rate hikes to come.
7. Bank of America expects the dollar to strengthen further, with a EUR/USD exchange rate forecast of 1.05 by the end of 2023.
8. EUR/JPY extended its rally to a 15-year high. GBP/JPY rose to 180 for the first time since December 2015.
9. Cunliffe, deputy governor of the Bank of England: The view on the digital pound has not changed since February. The UK “may need” a digital pound.
10. It is reported that there are serious differences within the European Central Bank on whether to raise interest rates in September.
11. The Vice President of Türkiye stated that there will be no change in the real exchange rate.
12. Philippine Finance Minister Diokno: If inflation drops significantly, the Philippine central bank may cut interest rates.
13. Thai Finance Minister: The depreciation of the baht will help support exports.