Russia is demanding that Lithuania lift its blockade of Kaliningrad Oblast.
Bank of France lowered France’s growth forecast to 2.3% from 3.4% while the outlook for 2023 was lowered to 1.2% from 2.0%. Inflation expectations for 2022 were increased to 5.6% from 3.7% while the outlook for 2023 was increased to 3.4% from 1.9%.
Unionized railroad workers in the U.K. have begun their largest strike in 30 years.
Germany’s largest metalworkers’ union is calling for an 8% wage hike.
European Central Bank President Lagarde repeated intentions to raise rates by 25 bps in July and September while Chief Economist Lane said that the size of the September increase remains undecided.
Eurozone’s April Current Account deficit reached EUR5.80 bln (last deficit of EUR1.60 bln).
U.K.’s June CBI Industrial Trends Orders fell to 18 from 26 (expected 22).
Swiss May trade surplus reached CHF2.00 bln (last surplus of CHF3.60 bln).