Core Viewpoint - The Federal Reserve's staff anticipates that the real GDP growth for 2025 will be higher than previously forecasted, while the inflation rate is expected to be lower than earlier predictions [1] Summary by Relevant Categories Economic Growth - The Federal Reserve staff projects an increase in the actual GDP growth for 2025 compared to earlier estimates [1] Inflation Expectations - The anticipated inflation rate for 2025 is expected to be lower than previous forecasts [1]

Core Viewpoint - The Reserve Bank of Australia (RBA) unexpectedly decided to maintain the interest rate at 3.85%, contrary to market expectations of a reduction to 3.60% [1][2] Group 1: RBA Decision and Economic Indicators - The RBA stated it needs more time to assess inflation data before making any changes to the interest rate [1] - The RBA is waiting for more information to confirm that the inflation rate will sustainably reach 2.5% [1] - Australia's inflation rate in May was reported at 2.1%, the lowest level since October 2024, while the first quarter inflation rate was 2.4%, maintaining a four-year low [1] Group 2: Market Reactions - Following the RBA's decision, the S&P/ASX 200 index fell by 0.24%, while the Australian dollar (AUD) rose by over 1% due to the unexpected decision [1] - The AUD/USD exchange rate has been forming a downward channel since early July, indicating significant resistance at the upper boundary of this channel [1] - There is a possibility for the AUD/USD to retrace towards the middle of the downward channel, suggesting that the market's initial reaction to the RBA's decision may have been hasty [2]

Core Viewpoint - The Reserve Bank of New Zealand indicates that the inflation rate may rise to the upper limit of the 1%-3% target range by mid-2025 [1] Group 1: Economic Outlook - Global policy uncertainty is increasing, and tariffs are expected to reduce global economic growth [1] - This may slow down the economic recovery in New Zealand and alleviate inflationary pressures [1]

新西兰联储：随着经济中闲置的生产能力和国内通胀压力的下降，整体通胀率预计将保持在区间内，到 2026年初将恢复到2%左右。 ...

Core Viewpoint - The Reserve Bank of Australia (RBA) Chairman, Philip Lowe, is currently awaiting confirmation that the inflation rate is moving towards the target midpoint [1] Group 1 - The RBA is monitoring inflation trends closely to ensure they align with the established target [1] - There is an emphasis on the importance of achieving the inflation target for economic stability [1]

澳大利亚储备银行将基准利率维持在3.85%不变，市场预期为降息25个基点。澳储行表示，委员会对经 济前景仍持谨慎态度，特别是在总需求和总供给方面的不确定性加剧的情况下；可以再等待一些信息， 以确认通胀率有望在可持续的基础上达到2.5%。（新华财经） ...

澳洲联储：可以再等待一些信息，以确认通胀率有望在可持续的基础上达到2.5%。 ...

Group 1 - The core viewpoint indicates that the Reserve Bank of Australia acknowledges that the monthly consumer price index suggests the inflation rate for the June quarter may be in line with expectations, albeit slightly higher than anticipated [1]

越南央行：今年将保持通胀率在4.5%至5.0%的范围内。 ...

Domestic News - The State Administration of Foreign Exchange reported that as of June 2025, China's foreign exchange reserves reached $33,174 billion, an increase of $322 billion from May, marking a rise of 0.98% and maintaining stability above $3.2 trillion for 19 consecutive months. This increase is attributed to the depreciation of the US dollar and the overall rise in global financial asset prices, alongside China's steady economic growth [1][1]. - The People's Bank of China announced that as of the end of June, China's gold reserves stood at 7.39 million ounces (approximately 2,298.55 tons), with an increase of 70,000 ounces (about 2.18 tons) month-on-month, marking the eighth consecutive month of gold accumulation [1][1]. - The National Development and Reform Commission and three other departments issued a notice aiming to plan and construct over 100,000 high-power charging facilities nationwide by the end of 2027, emphasizing the need for market-driven planning and integration with existing infrastructure [2][2]. - The Shanghai Municipal Government released measures to promote high-quality development in the software and information services industry, including reducing financing costs for small and medium-sized enterprises and providing guarantees for eligible companies up to 30 million yuan [3][3]. - The Wuhan Housing and Urban Renewal Bureau reported that in June, new and second-hand housing transactions in Wuhan totaled 21,551 units, reflecting a month-on-month increase of 30.9% and a year-on-year increase of 26.3%, with new home sales exceeding 10,000 units for the first time this year [3][3]. International News - Japan's Ministry of Health, Labour and Welfare reported that real wages have declined for five consecutive months this year, as wage growth has not kept pace with rising prices [6][6]. - European Central Bank Governing Council member Centeno expressed concerns that the main risk for the Eurozone is inflation falling below the ECB's 2% target, indicating that measures may be needed if economic growth and investment do not improve [6][6]. - UK employers are reducing hiring plans, with recruitment confidence dropping to its lowest level since 2011 (excluding the pandemic period), primarily due to rising hiring costs [6][6].