Bank of Japan: Determining whether wage increases will continue next year will be a key issue, a member said.

Bank of Japan: One member says there are inherent difficulties in adjusting yield curve control (YCC).

Bank of Japan: The path to achieving 2% inflation in a sustainable and stable manner appears to be clearly visible, a member said.

Bank of Japan: One member said that in order to ensure that the monetary easing policy can continue smoothly if necessary, it is hoped that the Bank of Japan will increase the flexibility of yield curve control to a certain extent in advance if it has the ability.

Bank of Japan: The Bank of Japan needs to maintain yield curve control while doing so with greater flexibility until the likelihood of achieving its price stability target has risen sufficiently, a member said.

BOJ: Given the growing upside and downside risks to the price outlook, it is appropriate for the BOJ to exercise yield curve control with greater flexibility to address these risks, a member said.

Bank of Japan: Strictly capping the 10-year JGB yield at 0.5% could affect the functioning of the bond market and volatility in other financial markets, a member said.

Bank of Japan: There is still a long way to go before adjusting the negative interest rate policy, a member said, and the yield curve control framework needs to be maintained.

Summary of comments from deliberation members of the Bank of Japan’s July monetary policy meeting: A member said that the Bank of Japan needs to be patient and continue to implement monetary easing to achieve its price stability goal.

Syrian National News Agency: Explosions were heard near Damascus, Syria.

The three major U.S. stock index futures all opened up more than 0.1% on Monday.

In Asian trading on Monday, WTI crude oil opened up 0.5% to $82.76 a barrel; spot gold opened up 0.29% to $1826.00 an ounce.

The Daily Telegraph: NatWest has restricted cash withdrawals for some customers.

Saudi defense company SAMI: Saudi Arabia has signed an agreement with Turkish defense company Baykar Tech to localize drone manufacturing in Saudi Arabia.

According to the British Financial Times: Russian subsidiaries of European companies face losses of 100 billion euros due to the Russian-Ukrainian conflict.

MUFG: At this time, however, we will not change our Fed Funds rate path forecast, as we believe long-term and variable lag effects will hit the economy hard in the second half of the year and into early 2024.

MUFG: If the Fed raises rates again and there are no credit events between now and the end of the year, we will revisit the rate path forecast and make adjustments as necessary.

MUFG: If the data ahead of the September FOMC meeting is strong, then the Fed may raise interest rates by another 25 basis points in a row.