The U.S. unadjusted food inflation rate was 2.1% in May, compared with 2.2% in the previous month.

The U.S. real income rate in May was 0.4% month-on-month, compared with -0.4% in the previous month.

Ian Lyngen, head of interest rate strategy at BMO Capital Markets: The importance of the U.S. CPI data and the Fed meeting cannot be overstated. Not only will the market get the latest information on the pace of realized inflation, but the Fed will also get this information - which gives the tone of the statement and press conference the real-time nature that people hope for.

Qatari Prime Minister: Both sides need to make concessions on the ceasefire agreement.

Qatari Prime Minister: Qatar, Egypt and the United States are committed to ending the Gaza conflict.

Qatari Prime Minister: Discussed Hamas’ response with Blinken.

Goldman Sachs: Raised its forecast for UK GDP growth in 2024 from 0.8% to 0.9%.

ECB Banking Supervision Committee Chairman Buch: Regulatory actions will not be “much ado about nothing”.

Azerbaijan said that all Russian peacekeepers have withdrawn from the Nagorno-Karabakh region.

The decline of European auto stocks narrowed, with Mercedes-Benz Group down 0.44%, BMW down 1.9%, Renault down 0.39%, and Stellantis rebounding and now up slightly by 0.17%.

Market news: Russia has changed the way it reports oil production amid a review of its oil production cuts.

U.S. Ambassador: I hope Turkey does not join the BRICS, but even if Turkey joins, its foreign policy changes are expected to be minimal.

US Ambassador: The United States has asked Turkey to convey a message to the Hamas leadership during ceasefire negotiations.

U.S. Ambassador: Due to May schedules and the serious political context of the situation in Gaza, the originally planned meeting between U.S. President Biden and Turkish President Erdogan has been canceled.

US Ambassador: US-Turkey strategic relations have never been so close.

A Reuters poll showed that UK inflation is expected to average 2.5% in 2024 and 2.2% in 2025 (compared to 2.4% and 2.2% in the May poll).

A Reuters poll showed that the UK economy is expected to grow by 0.7% in 2024 and 1.2% in 2025 (0.5% and 1.2% respectively in the May poll).

A Reuters poll showed 63 economists said the Bank of England will cut interest rates by 25 basis points to 5.00% in August, while another two said it would cut rates in September.