RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
BOJ Set for Rate Hike as Inflation and Yen Pressure Mount 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Global Central Banks Brace for More Rate Hikes as Inflation Risks Rise 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
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Few economic data and events scheduled for today, and all with low to medium volatility risks associated.
Data released so far:
- New Zealand: Credit card spending up 4.5 percent y/y in April.
- Australia: In his speech governor Lowe confirmed RBA’s easing bias.
Upcoming:
- United Kingdom: CBI industrial trend survey report will be released at 10:00 GMT.
- United States: Existing home sales report due at 14:00 GMT. Fed’s Evans’ speech at 14:45 GMT, and Rosengren’s at 16:00 GMT.
- New Zealand: Q1 retail sales report due at 22:45 GMT. Global dairy auction is scheduled today.
- Japan: Machinery orders and trade balance reports will be published at 23:50 GMT.
