Australia’s statistics agency reported that GDP rose 0.4% q/q in the second quarter, above the market forecast of 0.3%. The prior reading was 0.3%. The slight pickup in growth suggests resilient domestic demand, while cost pressures persist and markets are watching the RBA’s next policy steps.

Bank of Japan Governor Kazuo Ueda said financial conditions remain accommodative and the central bank will continue raising interest rates after attending the G20 finance ministers’ meeting. He added that the BoJ’s September meeting will closely examine upside risks to inflation. The comments reinforced market expectations for further policy tightening.