French politician and lawyer; President of the European Central Bank since 2019
Oil prices have fallen more than 6% after the United States and Iran paused attacks over the weekend, easing immediate shipping risk through the Strait of Hormuz and sending Brent toward $90 a barrel. Traders remain cautious: Houthi strikes in the Red Sea and depleted emergency stockpiles are keeping upside risks to prices in place.
The Bank of England has voted 8-1 to hold Bank Rate at 3.75% and has published three scenarios showing higher near-term inflation because of the Iran war and energy-price shock. Governor Andrew Bailey has said the path for policy will depend on the size and duration of the energy shock; chief economist Huw Pill has dissented for a 0.25pp rise.
France has seen multiple developments reshaping the 2027 presidential contest: Edouard Philippe has had a judicial inquiry opened over a 2020 Le Havre digital-hub contract; Reuters has reported a suspected disinformation campaign tied to a shadowy firm called BlackCore; and public rows between Kylian Mbappé and National Rally figures are intensifying the political debate.
The Bank of Japan has raised its policy rate to 1% from 0.75% in line with expectations, as the yen remains near multi-decade lows amid pressure from the Iran war and higher oil prices. Officials warn of ongoing volatility and potential further action to stabilize markets and inflation.
Micron has reported blockbuster fiscal third-quarter results — $41.46bn revenue and $28.24bn net income — and has forecast roughly $50bn for the current quarter. The results have pushed Micron above a $1tn market value, restarted buying in memory stocks and have sharpened concerns that soaring AI data‑centre demand is forcing consumer electronics makers, including Apple, to prepare price increases.
The Fed has maintained policy amid inflation that remains above the 2% goal. Markets are watching for Warsh's approach, with two potential paths emerging as data guides policy. Public appearances and congressional testimony will shape expectations for rate moves this year.
Central banks are maintaining cautious stances as inflation pressures persist. Officials have signalled that rate paths will be data-driven, with ongoing monitoring of energy prices and geopolitical risks. Market expectations hinge on inflation trends and the pace of growth.
U.S. Treasury yields have fluctuated amid hawkish signals from Fed Chair Warsh and ongoing data momentum. Investors await key jobs data and FOMC minutes to gauge policy direction.
A UN Global Dialogue on AI Governance has opened in Geneva to discuss regulatory safeguards as AI technology evolves rapidly. Participants from governments, tech, academia and civil society are exploring universal guardrails while acknowledging both the potential benefits and new risks. The dialogue emphasizes the need for proactive, globally coordinated standards.
French President Emmanuel Macron has visited Damascus to discuss strengthening bilateral relations as Syria seeks reconstruction after years of civil war. He has met Syrian officials and plans to attend a NATO summit in Ankara, highlighting Europe’s interest in re-engaging with Damascus amid regional stability efforts.
The Fed is holding its July meeting as inflation cools but energy prices rise amid Middle East tensions. Markets expect rates to stay put, with some officials signaling possible hikes later this year as investors price in a September move.