The People’s Bank of China made no changes to its one-year and five-year loan prime rates.
Press reports from China indicate that the mortgage boycott has spread to over 300 construction projects in 91 cities.
Caixin reported that suppliers to Chinese developers are struggling to pay bills due to money owed from developers.
Japan Airlines will reassign about 3,000 workers, according to Nikkei.
Reserve Bank of Australia Governor Lowe said that Australia’s neutral nominal rate is at least 2.5% and could be higher if medium-term inflation expectations increase.
Australia’s June MI Leading Index -0.2% m/m (last -0.1%)