Global Markets: RBA Signals Policy Patience, USD/JPY Hits Two-Week High, and German Chancellor Merz Meets Xi in Beijing

Key TakeawaysRBA Governor Michele Bullock emphasized the need for "patience" in assessing monetary policy after raising the cash rate to 3.85% to combat persistent inflation.The USD/JPY pair surged 0.32% to reach a fresh two-week peak of 156.45, reflecting continued divergence in global interest rate expectations.German Chancellor Friedrich Merz arrived in Beijing for high-stakes talks with President Xi Jinping, focusing on trade relations and the impact of new US tariffs.Russian authorities imposed a new f ...