Summary of Global Central Bank Developments: South Korean Stock Market Records Largest Single-Day Net Selling

The Chair of the Federal Reserve, Kevin Walsh, has appointed two economists as advisors. A Reuters survey predicts the Federal Reserve will keep interest rates unchanged until the end of 2027. The US Consumer Confidence Index for June was higher than forecast. An Invesco survey shows 61% of central banks believe US debt levels are affecting the status of the dollar. Citi has raised its target for the yield on 10-year US Treasury bonds. Bank of America expects the European Central Bank to raise interest rates in September 2026. Germany is considering a 20 billion euro tax cut plan. The Bank of England's Chief Economist, Pill, states that Brexit has made the UK more prone to inflation. Japan's retail sales have risen for three consecutive months, and the government targets annual real economic growth of over 1%. The Financial Times reports that Japan's number of IPOs in the first half of the year has dropped to a 15-year low. The European Central Bank's Sintra Forum is underway. The People's Bank of China conducted a 157.5 billion yuan 7-day reverse repo and a 300 billion yuan overnight reverse repo operation. South Korea has announced chip and artificial intelligence projects; foreign investors have net sold 7.7 trillion won of KOSPI stocks. A Wall Street Journal survey shows South Korea's inflation rate may exceed 3% for two consecutive months. The Governor of the Bank of Thailand said there will be no interest rate hike and banks will be permitted to issue Thai baht stablecoins. The Australian Prudential Regulation Authority plans to relax bank risk weights. Indonesia's Senior Deputy Governor states liquidity will be maintained.