The German Bundesrat passed a law decriminalizing cannabis.

Citigroup: Lowered the target price of Li Auto (LI.O) from $57.3 to $48.5.

Citigroup: Raised the target price of Xpeng Motors (XPEV.N) from $28 to $29.

The Russian central bank kept key interest rates unchanged, and the Russian ruble maintained its decline against the US dollar.

Central Bank of Russia: In the medium term, the balance of inflation risks remains tilted to the upside.

The Bank of Russia did not provide any guidance on interest rate decisions.

Central Bank of Russia: High-frequency indicators show that the Russian economy will continue to grow rapidly in the first quarter of 2024.

Central Bank of Russia: Inflation pressure is gradually easing.

Central Bank of Russia: Despite tightening monetary conditions, inflationary pressures remain high due to high domestic demand.

Central Bank of Russia: It is too early to judge the speed of future anti-inflationary trends.

Central Bank of Russia: Domestic demand still exceeds the ability to expand production capacity for goods and services.

Bank of Russia: The Bank of Russia’s monetary policy is aimed at consolidating the ongoing anti-inflationary process in the country’s economy.

The Central Bank of Russia: Inflation is expected to return to the target level in 2024 and further stabilize at a level close to 4%, provided that tight monetary conditions will be maintained in the economy in the medium to long term.

Central Bank of Russia: According to the Bank of Russia’s forecasts and monetary policy stance, the annual inflation rate will fall to 4.0-4.5% in 2024 and will further stabilize at a level close to 4%.

The Bank of Russia kept its benchmark interest rate unchanged at 16.00%, in line with market expectations.

Deputy Governor of the Central Bank of Poland: If demand pressure is not strong, Poland may cut interest rates this year.

The South African rand fell 1% against the dollar to 19.0225.

ECB Governing Council member Holzmann: New information in June could open the door to a rate cut.

According to Austrian weekly Profil: ECB Governing Council member Holzmann mentioned wages and uncertainty in the Middle East.

According to the Austrian weekly Profil: European Central Bank Governing Council member Holzmann believes that there are a series of inflation risks.