The Federal Reserve’s favored inflation measure will be watched closely after the central bank recently signaled the possibility that its next move could be to raise interest rates.
Weakness was especially prominent for those under 30 years of age, traditionally a more optimistic group, where sentiment fell to its lowest in two years.
Raising interest rates can curb economic activity, but the Bank of Japan’s deputy governor Ryozo Himino sees an even bigger danger from tightening too slowly.
The number of people who filed for unemployment benefits fell to 226,000 in the week through June 18, compared with the upwardly revised 230,000 reported a week earlier, the Labor Department said.
Taiwan’s central bank kept interest rates unchanged for a ninth consecutive quarter as it sees moderate inflation pressure ahead after the interim U.S.-Iran peace deal.
Indonesia’s central bank raised interest rates again as it seeks to support the rupiah and contain inflation risks stemming from geopolitical volatility.