Japan: Bank of Japan Lowers Growth Outlook
The Bank of Japan revised down its growth forecast for the current fiscal year from 1.1% to 1.0% as exports and household spending continue to be subdued. For 2015 it maintained the growth forecast at 1.5%. In addition, the Bank left its monetary stimulus unchanged as expected by market analysts. (Source: RTT News)

Indonesia: What’s Next for Indonesia?
Polling projections show Joko Widodo as winner of the presidential elections that were celebrated last Wednesday, but only by a small margin, and his rival Prabowo Subianto has refused to concede. The official results will only be announced on July 22 and the time lag has led to fears of electoral fraud, or even instability. (Source: The Jakarta Post)

United Kingdom: FCA Imposes Cap on Payday Loans
Following the Bank of England’s limitation on mortgage loans, the Financial Conduct Authority (FCA) has imposed a cap on payday loans. The cap proposed by the FCA intends to stop default charges spiraling out of control. (Source: The Guardian)

India: India CPI Lowest in 2-1/2 Years as Monsoon Poses Threat
India’s inflation recorded the lowest level since January 2012. As a result, the data eased pressure on the Central Bank to keep interest rates high. The figure came as a result of a weak monsoon rainfall, which has been 41% below normal since 1 June. (Source: Bloomberg)

China: Top Chinese Economists Debate Role of Gov’t in Economy
Caixin publishes an interesting debate between two top Chinese economists: Justin Yifu Lin who supports government intervention in the economy and Zhang Weiying, a Hayek follower and free-market advocate. (Source: Caixin)

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