Lowe, Chairman of the Reserve Bank of Australia: I am working hard to control inflation expectations. If I am asked to continue as the chairman of the Reserve Bank of Australia, I will be honored. If I am not asked, I will do my best to support my successor.

Reserve Bank of Australia Chairman Philip Lowe: It is very important to restore the inflation rate to the target level.

RBA Chairman Lowe: The RBA raised interest rates because we need them, not because of the influence of the United States.

RBA Chairman Lowe: The current internal structure of the RBA Board will remain unchanged.

Reserve Bank of Australia Chairman Philip Lowe: Future quarterly monetary policy statements will be released at the same time as policy decisions.

RBA Chairman Philip Lowe: Determined to return inflation to target within a reasonable time frame.

Lowe, Chairman of the Reserve Bank of Australia: Economic growth will remain sluggish in the next few years, and it will take time for inflation to return to the target level.

RBA Chairman Lowe: At the August meeting, we will have updated economic forecasts and new data.

RBA Chairman Philip Lowe: The magnitude and speed of interest rate hikes so far have been significant.

Bank Indonesia survey showed retail sales rose 4.5% in May from a year earlier.

Bank of Korea: Net bank lending to households was 5.9 trillion won in June, compared with 4.2 trillion won in May, and bank loans to households in South Korea in June hit the largest monthly increase since September 2021.

Market news: Texas in the United States postponed the decision on subsidies for electric vehicle charging funds until August 16.

USD/CAD fell below 1.32 against the Canadian dollar, down 0.25% on the day.

The U.S. state of Texas has again postponed a vote on federal funds to build electric vehicle chargers until Aug. 16 after some charging companies expressed opposition to plans to incorporate Tesla technology into charging stations.

The Nikkei 225 closed down 0.8% in early trade at 31,957.86.

Spot gold broke through $1,940 per ounce, up 0.42% on the day.

Japanese Chief Cabinet Secretary Hiroichi Matsuno: Plans to hold summits with South Korea, Australia and New Zealand during the NATO summit.

The New Zealand dollar two-year interest rate swap extended its decline, down 4 basis points to 5.54%.

Federal Reserve Bank of New Zealand: The committee expects inflation to fall back to the target range in the second half of 2024.