OCBC’s Christopher Wong notes the RBA kept rates at 4.35% while retaining a tightening bias, signalling readiness to hike if needed. However, slowing growth and rising unemployment point to a prolonged pause.

RaboResearch Global Economics & Markets discusses recent UK CPI and labour data and their implications for the Pound, EUR/GBP and GBP/USD. The bank notes softer UK inflation, signs of spare capacity in the labour market and tighter financial conditions.

OCBC’s Christopher Wong highlights that the BoJ’s widely expected 25 bp hike to 1.0% and confirmation of tapering ending in 2027 delivered limited support for the Japanese Yen.

The United States (US) Federal Reserve (Fed) announces its interest rate decision on Wednesday, another pivotal meeting for markets to gauge the stance of policymakers and new Chair Kevin Warsh as energy prices retreat after the United States and Iran reached a framework deal to reopen the Strait of

United Kingdom DCLG House Price Index (YoY) registered at 3.8% above expectations (2.8%) in April

South Africa Consumer Price Index (MoM) dipped from previous 1.1% to 0.7% in May

South Africa Consumer Price Index (YoY) came in at 4.5%, below expectations (4.7%) in May

European Central Bank (ECB) policymaker, Gediminas Šimkus, crossed the wires during the early European session on Wednesday, saying there's still enough upside risk for inflation to justify additional policy tightening.

NZD/USD depreciates after registering modest gains in the previous day, trading around 0.5820 during the early European hours on Wednesday. The pair loses ground as the New Zealand Dollar (NZD) struggles on market caution ahead of the Federal Reserve (Fed) policy decision due later in the day.

Sweden Riksbank Interest Rate Decision in line with expectations (1.75%)

Austria HICP (YoY): 0.7% (May) vs previous 3.4%

Austria HICP (YoY) rose from previous 3.4% to 3.7% in May

Austria HICP (MoM) meets forecasts (0.1%) in May

Deutsche Bank’s US economists expect the first Federal Reserve meeting under Chair Kevin Warsh to keep rates unchanged but shift guidance.

Here is what you need to know on Wednesday, June 17:

The United Kingdom (UK) headline Consumer Price Index (CPI) climbed 2.8% over the year in May, compared to a rise of 2.8% in April, the data released by the Office for National Statistics (ONS) showed on Wednesday.

United Kingdom Core Consumer Price Index (YoY) registered at 2.6%, below expectations (2.7%) in May

United Kingdom Retail Price Index (YoY) up to 3.1% in May from previous 3%

United Kingdom Retail Price Index (MoM) declined to 0.2% in May from previous 0.7%

United Kingdom Consumer Price Index (YoY) remains unchanged at 2.8% in May

United Kingdom Consumer Price Index (MoM) below forecasts (0.4%) in May: Actual (0.2%)

United Kingdom PPI Core Output (MoM) n.s.a above forecasts (0.4%) in May: Actual (0.8%)

United Kingdom Producer Price Index - Input (YoY) n.s.a registered at 8.7%, below expectations (8.8%) in May

United Kingdom Producer Price Index - Input (MoM) n.s.a below expectations (0.5%) in May: Actual (0.2%)

United Kingdom Producer Price Index - Output (YoY) n.s.a meets forecasts (4%) in May

United Kingdom Producer Price Index - Output (MoM) n.s.a meets forecasts (0.5%) in May

The People’s Bank of China (PBOC) Governor Pan Gongsheng said on Wednesday that the central bank would act if the money market overnight rate persistently deviates from operation rates.

China's financial regulator on Wednesday pledged to intensify regulatory collaboration in new sectors, curb systemic risks, resolve real estate and local government debt exposures, and crack down on illegal activity and disorderly competition in the financial sector.

Australia Westpac Leading Index (MoM) dipped from previous 0.05% to 0% in May

West Texas Intermediate (WTI) oil price moves little after registering nearly 5% losses in the previous day, trading around $75.80 per barrel during the Asian hours on Wednesday.