Other news

The Bank of Canada kept its rate at 2.75% in June. However, BofA Securities economist Carlos Capistran noted the regulator's more dovish stance. He forecasts a 0.25% cut in Canada's borrowing costs at the September, October, and December meetings.

According to Bloomberg, in the first 20 days of May, Japanese exports declined as the tariffs set by US President Donald Trump took a heavier toll. Data from Japan's Ministry of Finance indicates that the value of exports fell by 3% compared to the same period last year.

According to the Times Tabloid, XRP will be categorized under the European Union's Markets in Cryptoassets Regulation (MiCA) as a “utility token.” This is an important confirmation of XRP's functional role in blockchain finance.

In April, Japanese household spending unexpectedly dropped as high inflation curbed discretionary purchases. The decline served as a worrying sign for policymakers amid an economic downturn that had begun even before US tariffs took full effect, Bloomberg reports.

A decrease of the indicator value may contribute to the fall in quotes of CAD.

RBC strategists led by Sam Crittenden noted a weakening in copper supply and demand. Therefore, Donald Trump's refusal to impose tariffs on this metal could negatively impact prices.

The Bank of Canada has decided to keep its interest rate at 2.75%, signaling that fighting core inflation takes priority over concerns about weak economic growth, Bloomberg notes. However, several experts quoted by the agency believe the central bank will cut rates multiple times this year.

The UK Office for National Statistics (ONS) reported that April's inflation rate was overstated due to an error in vehicle tax data.

Japanese government bonds rose following a relatively solid auction of 30-year debt, which outperformed investors' low expectations, Bloomberg reports.

The Bank of Canada decided to maintain its policy rate at 2.75% while awaiting further information on the impact of US trade policy. When making this decision, the regulator considered steady inflation growth and the economy's relative stability in the first quarter.