The Bank of England is predicted to start tightening its monetary policy as late as in the three months through September of 2016, according to EY ITEM Club's latest forecast for the UK economy.
Greece reopened its banks, cleared overdue debt repayments of 2.05 billion euros to the IMF and initiated payment of 4.2 billion euros in principal and interest to the ECB after Athens received emergency funding assistance from European authorities.
Canada's annual inflation accelerated in June as food and shelter costs rose, while energy provided less of a drag.
US housing starts recovered strongly in June, while building permits surged to near the highest level in eight years, adding to signs of a rapidly strengthening housing market.
European leaders unanimously reached a third bailout deal for Greece, worth up to 86 billion euros, while the ECB raised its emergency-lending ceiling to Greek banks by 900 million euros, putting the total amount of ELA at nearly 90 billion euros.
While New Zealand's inflation rose slightly in the three months ending June 30, it remained well below the RBNZ's target range of 1% to 3%, putting greater pressure on the central bank to proceed with the easing cycle it initiated last month.
Bank of England Governor Mark Carney hinted that UK interest rates could rise "at the turn of the year", adding that any lift in borrowing costs would be gradual and would not reach the pre-crisis level.
The number of Americans who applied for unemployment benefits declined in the week ended July 11, coming in slightly better than expected.
The European Central Bank kept its interest rates unchanged for already the eighth consecutive meeting.
The Bank of Canada trimmed its benchmark overnight interest rate by 25 basis points to 0.50%, amid a more severe than expected effect of the sharp drop in oil prices and a weak recovery in non-energy sector.
Chinese economy reported better than expected industrial production and retail sales on a year-on-year basis, therefore suggesting that the stimulus by Beijing has had its effect on the economy.
The British unemployment climbed for the first time in more than two years, while faster earnings growth suggests the Bank of England would continue to signal an interest rate hike is moving closer.
Wholesale prices in the US rose more than expected last month as the cost of fuel increased, reinforcing the view inflation is slowly climbing from historically weak levels.
An overwhelming majority of Greek parliamentarians approved a raft of painful austerity measures demanded by the country's international creditors in exchange for a third bailout package worth 86 billion euros.
The Bank of Japan decided to keep its current monetary settings unchanged, albeit it downgraded its economic growth outlook for fiscal 2015.
The world's second biggest economy continued to grow at the slowest pace in six years in the second quarter, yet in line with Beijing's goal.
Speaking to Parliament's Treasury Committee, Mark Carney, BoE Governor, hinted that UK interest rate hike is getting closer, sending the Pound surging versus the US Dollar.
Retail sale in the US unexpectedly declined in June, questioning strength of the rebound in consumer spending during the second quarter.
German investor morale deteriorated in July with debt deal talks between Greece and its European partners contributing to mounting pessimism among financial market experts to a limited extent.
Japan industrial production surprised to the downside in May, questioning the world's third biggest economy's ability to sustain a healthy growth pace in the second quarter.
Australia's business confidence jumped to the highest level since the election of Prime Minister Tony Abbott's government in September 2013 as post-budget boost to confidence appears to be mounting.
China's overseas shipments unexpectedly rose in June, while imports declined, reinforcing the view Beijing may further loosen monetary policy to support the world's second biggest economy after a recent stock market rout.
Estimates of growth in the US gross domestic product from the Federal Reserve Bank of Atlanta, Macroeconomic Advisers and Barclays Capital suggest the world's biggest economy rebounded in the second quarter after the winter slump.
After more than 17-hour long summit and sleepless night in Brussels, European leaders have unanimously reached a third bailout deal for Greece on Monday.