New Zealand’s central bank raised its key interest rate for a second consecutive meeting. The move aims to shift policy settings toward a less stimulatory stance to head off inflationary pressures. It marks a further tightening of the country’s monetary policy.

Australia’s economic growth unexpectedly picked up last quarter, beating market expectations. The stronger result strengthens the case for the Reserve Bank of Australia to raise interest rates again as inflation remains elevated. It has also lifted market expectations for further monetary tightening by the central bank.

Bank of Japan Governor Kazuo Ueda said the board will decide monetary policy while keeping upside risks to prices in mind. His remarks have added to market speculation that the BOJ could raise interest rates at a meeting later this month.

The Bank of Israel announced an interest-rate cut on Monday, marking the third consecutive meeting in which it has lowered rates. The move follows pressure from exporters, who say the shekel’s continued appreciation is hurting export competitiveness. The central bank is further easing policy in an effort to curb the currency’s strength.