Chinese banks are expected to hold their main lending rates steady in the absence of more easing from the central bank, which is trying to strike a balance between preventing faster inflation and supporting the economy. 

Chinese Premier Li Keqiang signaled a focus on jobs, flexibility on the economic growth rate and a shift toward making its Covid control measures more targeted. 

Toyota Motor on Tuesday (Jul 19) announced its global production for August would be about 18 per cent fewer than its earlier plan as the automaker struggles to shake off impacts of chips shortage and COVID-19 outbreaks.

The number of people claiming jobless benefits fell by 20,000 in June, less than expected, while average earnings growth slowed and fell further behind inflation, the Office for National Statistics said on Tuesday. 

Almost half of the record high inflation in the euro zone in June resulted from the energy price spike, the EU's statistics office said on Tuesday, with more expensive food the second biggest factor and services the third.

The European Central Bank will discuss raising its official interest rates by 50 basis points on Thursday, not just the 25 basis point rise it has flagged, Reuters reported on Tuesday, citing unnamed sources.