Global Central Banks Brace for More Rate Hikes as Inflation Risks Rise 
BOJ Raises Interest Rate to 31-Year High as Yen Weakens 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
Fed’s Williams Signals One More Rate Hike Before Year-End 
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Lots of economic data and events scheduled for today, but all with low to medium volatility risks associated.
Data and events so far:
- New Zealand: ANZ business confidence index declined to -38.1 in June from -32 in May. Activity outlook index declined to 8 percent from 8.5 percent.
Upcoming:
- Spain: HICP inflation report due at 7:00 GMT.
- Italy: Business and consumer confidence reports will be released at 8:00 GMT, followed by the trade balance report.
- Switzerland: ZEW economic survey report will be released at 8:00 GMT.
- Eurozone: Confidence reports will be released at 9:00 GMT.
- Germany: HICP inflation report due at 12:00 GMT.
- United States: Weekly jobless claims report due at 12:30 GMT, followed by pending home sales report at 14:00 GMT. Kansas Fed will release manufacturing report at 15:00 GMT. EIA will release weekly natural gas inventory report at 14:30 GMT.
- United Kingdom: GFK consumer confidence report due at 23:00 GMT.
- Japan: Tokyo inflation report due at 23:50 GMT, along with industrial production for the month of May.
- Auction: the U.S. will auction 1-month bills at 15:30 GMT, and 5-year note at 17:00 GMT.
