The Bank of Japan decided to raise its benchmark interest rate by a quarter-point to its highest level in 31 years, and to halt government bond purchase reductions next year. The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent. The board signaled its commitment to further monetary policy tightening to support its price stability target.
Hong Kong's unemployment rate held steady in the three months ending in May. The seasonally adjusted unemployment rate came in at 3.7 percent in March to May, the same as in the February to April period. Similarly, the underemployment rate stayed unchanged at 1.5 percent. Total employment fell by around 8,700 to 3.639 million.
Consumer price inflation in Italy accelerated further in May to the highest level in more than two-and-a-half years, as estimated initially. Consumer price inflation accelerated to 3.2 percent in May from April's 2.7 percent. The rise in inflation was mainly influenced by the price developments in non-regulated energy products, which grew by 12.5 percent.
Turkey's retail sales growth moderated in April to the lowest level in just over a year. Retail sales rose 11.4 percent yearly in April, much slower than the 21.7 percent surge in March, which was the fastest growth since February 2024. Annual sales growth in non-food products, excluding fuel, slowed to 14.5 percent from 29.5 percent, and growth in food products improved to 7.6 percent.
The Czech Republic's industrial producer price inflation accelerated less-than-expected in May to the highest level in nearly one-and-a-half years. The industrial producer price index climbed 1.5 percent yearly in May, faster than the 1.0 percent renewed increase in April. Energy prices rose 2.5 percent, and those for intermediate goods were 3.5 percent higher.
China's retail sales declined for the first time since 2022 on subdued domestic demand and fixed asset investment logged a sharper-than-expected fall, while industrial production remained a bright spot, official data revealed Tuesday. Retail sales decreased 0.6 percent from a year ago in May, the National Bureau of Statistics reported.
The Reserve Bank of Australia left its benchmark interest rate unchanged on Tuesday as policymakers evaluate the effects of three consecutive rate hikes and the impact of oil supply disruption. The policy board, governed by Michele Bullock, unanimously voted to hold the cash rate target at 4.35 percent. The bank had lifted the policy rate by 25 basis points each in February, March and May.
The Bank of Japan raised its benchmark interest rate by a quarter-point on Tuesday, to its highest level since 1995. The policy board of BoJ voted 7-1 to raise the interest rate to 1.00 percent from 0.75 percent.
The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a busy day for Asia-Pacific economic activity. The RBA is expected to keep its benchmark lending rate steady at 4.35 percent. The Bank of Japan will also...
Homebuilder confidence has seen a modest deterioration in the month of June, according to a report released by the National Association of Home Builders on Monday. The report said the NAHB/Wells Fargo Housing Market Index dipped to 35 in June after jumping to 37 in May. Economists had expected the index to edge down to 36.
Bulgaria's consumer price inflation accelerated slightly less than estimated in May to the highest level in more than two-and-a-half years. The consumer price index, or CPI, climbed 6.9 percent year-over-year in May, faster than the 6.8 percent rise in April. The rise in inflation was largely driven by a 21.6 percent jump in transportation costs.
A report released by the Federal Reserve on Monday showed a modest increase in industrial production in the U.S. in the month of May. The Fed said industrial production crept up by 0.1 percent in May after climbing by an upwardly revised 0.9 percent in April. Economists had expected industrial production to rise by 0.2 percent.
Slovakia's consumer price inflation softened slightly in May. Consumer prices rose 3.8 percent annually in May, following a 3.9 percent increase in April. Inflation based on food and non-alcoholic beverages eased to 0.3 percent from 1.0 percent. On the other hand, transport inflation was 9.4 percent, which was the highest growth in three-and-a-half years.
Switzerland's producer and import prices decreased for the first time in three months in May. The producer and import price index posted a monthly decrease of 0.4 percent in May, reversing a 0.8 percent increase in April. The falling trend in May was mainly driven by lower costs for pharmaceutical products, petroleum and natural gas, and electricity.
After posting strong growth last month, New York manufacturing activity increased modestly in the month of June, according to a report released by the Federal Reserve Bank of New York on Monday. The New York Fed said its general business conditions index plunged to 5.7 in June after jumping to 19.6 in May, although a positive reading still indicates growth.
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.