🇨🇳 China's 41-month deflation subsidy ends as PPI hits a near four-year high
🌏 A war premium, not the Fed, forced Bank Indonesia's first emergency rate hike in eight years
🇬🇧 UK April GDP contracts 0.1% as services run hot, boxing in the BoE before June 18
🇪🇺 ECB arrives at neutral after first hike in three years as services inflation keeps September alive
🇺🇸 Warsh walks into a supply shock the Fed cannot fix
📰 Daily Macro Roundup: 2026-06-12
🇨🇳 China's PPI surge is the wrong kind of reflation for a demand-starved economy
🌏 Bank Indonesia fires an off-cycle hike as the rupiah hits a record low
🇬🇧 UK April GDP contracts as gilt markets push back on the BoE's terminal rate story
🇪🇺 Lagarde rejects 'insurance hike' and writes stagflation into the ECB's official baseline
