Iranian presidential race, Chinese inflation, BOJ policy meeting
Welcome to Your Week in Asia.
Iran is gearing up to pick a new president after the death of Ebrahim Raisi in a helicopter crash last month, while a European anti-subsidy probe that could bring new tariffs on Chinese electric vehicles is nearing its conclusion.
China releases inflation data on Wednesday, and the Bank of Japan holds a monthly policy meeting later in the week.
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This is an adapted version of Nikkei Asia’s Your Week in Asia newsletter - a briefing of the most important business, economic and political events happening across Asia this week. Register to our full selection of newsletters.
MONDAY
New Iranian leader
Iran's Guardian Council will announce candidates vying for the country's presidency in its June 28 election to succeed Ebrahim Raisi, who died in a helicopter crash in May. State media have reported that the speaker of parliament, Mohammad Bagher Qalibaf, a former Revolutionary Guards commander who lost his bid in two previous presidential polls, is among the candidates. Other well-known figures who have signed up include hardline former President Mahmoud Ahmadinejad and former Speaker Ali Larijani, a prominent conservative and ally of Supreme Leader Ayatollah Ali Khamenei.
Defense industry cooperation
The U.S. and Japan hold their inaugural meeting of the Defense Industrial Cooperation, Acquisition, and Sustainment Forum (DICAS) in Tokyo. Under Secretary of Defense for Acquisition and Sustainment William LaPlante and Masaki Fukasawa, commissioner of Japan's Acquisition, Technology, and Logistics Agency, meet with representatives from American and Japanese defense contractors to discuss co-production of missiles and ship repair of U.S. Navy ships at Japanese private shipyards.
U.S.-South Korea nuclear talks
The U.S. and South Korea will hold the third meeting of the Nuclear Consultative Group (NCG) in Seoul to discuss further ways to deter North Korea's nuclear threat. Established under the Washington Declaration when presidents Joe Biden and Yoon Suk Yeol met in April last year, the NCG arranged the Ohio-class nuclear ballistic missile submarine USS Kentucky's port call to Busan last June, the first such visit by a ballistic missile submarine in four decades.
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Pakistan policy meeting
Pakistan's central bank is expected to cut its key interest rate by 100 basis points (1%) after holding it at a record 22% for seven straight policy meetings, according to a Reuters poll of market watchers. The bank's Monday meeting comes a week after Pakistan recorded its lowest inflation reading in 30 months at 11.8% in May. Pakistan's annual budget will also be announced this week.
Chinese EVs in EU crosshairs
A European anti-subsidy probe that could bring new tariffs on Chinese electric vehicles is nearing its conclusion amid Western concerns about cheap exports flooding their markets. A decision is expected this week, as early as Monday, after it was postponed to avoid any impact on elections for the European Parliament that wrapped up over the weekend.
WEDNESDAY
China price data
China releases inflation data for May, providing the latest gauge of the closely watched domestic consumer market. The reading has inched up for three straight months, easing concerns about deflationary pressure. But amid a prolonged property crisis, doubts over consumer confidence are lingering.
Monetary policy: Thailand
THURSDAY
Monetary Policy: Japan
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