Welcome to Asia Week.
Iran is preparing to elect a new president following the death of President Ebrahim Raisi in a helicopter crash last month, while a European anti-subsidy investigation that could result in new tariffs on Chinese-made electric cars is nearing completion.
China will release inflation data on Wednesday and the Bank of Japan will hold its monthly policy meeting later in the week.
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Monday
Iran's New Leader
Iran's Guardian Council will announce its candidate to run in the June 28 presidential election to replace Ibrahim Raisi, who died in a helicopter crash in May. State media has reported that candidates include Parliament Speaker Mohammed Bagher Qalibaf, a former Revolutionary Guards commander who lost the last two presidential elections. Other prominent figures who have put their name forward include hardline former President Mahmoud Ahmadinejad and former Speaker Ali Larijani, a prominent conservative ally of Supreme Leader Ayatollah Ali Khamenei.
Defense Industry Cooperation
The United States and Japan held the inaugural Defense Industrial Cooperation, Acquisition and Sustainment Forum (DICAS) in Tokyo. Under Secretary of Defense for Acquisition William LaPlante and Commissioner of Japan's Acquisition, Technology and Logistics Agency Masaki Fukazawa met with representatives from U.S. and Japanese defense companies to discuss joint missile production and repair of U.S. Navy ships at private Japanese shipyards.
US-South Korea nuclear talks
The United States and South Korea are holding the third meeting of the Nuclear Consultative Group (NCG) in Seoul to discuss further ways to deter North Korea's nuclear threat. The NCG was established based on the Washington Declaration issued during a meeting between Presidents Joe Biden and Yun Seok-yeo last April and arranged for the Ohio-class nuclear ballistic missile submarine USS Kentucky to visit Busan in June last year, the first such visit by a ballistic missile submarine in 40 years.
Pakistan Policy Council
Pakistan's central bank is expected to cut interest rates by 100 basis points (1 percentage point) after keeping them unchanged at a record 22 percent for the seventh consecutive session, according to a Reuters poll of market participants. The bank's meeting on Monday comes a week after Pakistan recorded its lowest inflation rate in 30 months, 11.8 percent, in May. Pakistan's annual budget is also due to be released this week.
Chinese EVs targeted by EU
A European anti-subsidy investigation that could lead to new tariffs on Chinese-made electric cars amid Western concerns that cheap exports are flooding the market is nearing completion, with a decision expected as early as Monday after being postponed to avoid interfering with European Parliament elections that ended over the weekend.
Wednesday
China Price Data
China released its May inflation data, the latest indicator of the closely watched domestic consumer market. Inflation rose for a third straight month, easing fears of deflationary pressures, but doubts about consumer confidence remain amid a protracted property crisis.
Monetary policy: Thailand
Thursday
Monetary Policy: Japan
