Data released by the London Metal Exchange (LME) showed that LME tin inventory continued its downward trend last week, with the latest inventory level at 2,155 mt, hitting a new two-year low. Data released by the Shanghai Futures Exchange (SHFE) indicated that during the week ending June 13, SHFE tin inventory pulled back, with weekly inventory decreasing by 3.59% to 7,107 mt, reaching a new four-month low. Note: Generally, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices. Comparison of LME and SHFE tin inventory since 2023 The following are the tin inventory data for LME and SHFE since June 2025: (Unit: mt)

Data released by the London Metal Exchange (LME) showed that LME tin inventory declined overall last week and continued to pull back this week, with the latest inventory level at 2,415 mt, hitting a nearly two-year low. Data released by the Shanghai Futures Exchange (SHFE) indicated that SHFE tin inventory continued to decline in the week ending June 6, with weekly inventory decreasing by 9.07% to 7,372 mt, reaching a three-month low. Note: Generally, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices. Comparison of tin inventory at the LME and SHFE since 2023 The following are tin inventory data at the LME and SHFE since May 2025: (Unit: mt)

SMM News on June 10: At 9:00 a.m. on June 10, cast aluminum alloy futures were officially listed on the Shanghai Futures Exchange (SHFE). The benchmark listing prices for the AD2511, AD2512, AD2601, AD2602, AD2603, AD2604, and AD2605 contracts were set at 18,365 yuan/mt.

SMM May 30 Report: Metal Market: Overnight, metals in both domestic and overseas markets showed mixed performance. LME nickel rose by 2.56%, and SHFE nickel increased by 1.25%. LME tin fell by 2.48%, and LME lead dropped by 1.11%. SHFE tin decreased by 2.28%, while the price changes of other metals were all within 1%. The main alumina futures contract remained flat at 2,954 yuan/mt. The ferrous metals series also showed mixed performance. Stainless steel rose by 0.39%, iron ore increased by 0.35%, and rebar gained 0.07%. In the coking coal and coke sector, coking coal fell by 1.96%, and coke dropped by 1.31%. In the precious metals sector, as of the overnight close, COMEX gold rose by 0.61%, and COMEX silver increased by 0.84%. Domestically, SHFE gold rose by 0.96%, and SHFE silver increased by 0.28%. Overnight closing prices as of 8:14 AM on May 30 》Click to view SMM Futures Data Dashboard Macro Front Domestic Developments: [Preview: The China Council for the Promotion of International Trade (CCPIT) will hold its regular May press conference from 10:00 AM to 11:00 AM on May 30] The CCPIT will organize its regular May press conference at its auditorium from 10:00 AM to 11:00 AM on May 30 (Friday). Zhao Ping, the CCPIT spokesperson, will release the following: the Global Economic and Trade Friction Index for March 2025, commercial certification data from the national trade promotion system for April 2025, the "Business Environment Report on Japan 2024" and the "Business Environment Report on South Korea 2024", outcomes of the 2025 Global Trade and Investment Promotion Summit, and a preview of events for the Osaka Expo, among others. Zhang Yuzhuo, Secretary of the Party Committee and Director of the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), visited the China Automotive Technology & Research Center Co., Ltd. to investigate the company's business development, technological innovation, and Party building work. Zhang Yuzhuo emphasized the need to strive for breakthroughs and master more key core technologies, consolidate the foundation of industrial technology, leverage the leading role of industry standards, and support national automobile brands in better "going global." On May 29, the Ministry of Commerce held a regular press conference. Spokesperson He Yongqian stated that the EU had initiated an anti-dumping investigation into China's passenger car and light truck tire products, to which China expressed great concern. China has consistently advocated for the reasonable and prudent use of trade remedy measures and urged the EU not to hastily impose trade restrictions, but rather to resolve mutual concerns through dialogue and consultation with China. China will closely monitor the EU's subsequent actions and resolutely safeguard the legitimate rights and interests of Chinese enterprises. US Dollar Developments: The US dollar fell by 0.52% overnight as investors prepared for the showdown between US President Trump and the US Court of International Trade's ruling, which blocked most of the proposed tariffs on Wednesday. According to CCTV News, on May 29 local time, the US Court of Appeals for the Federal Circuit granted the Trump administration's request to temporarily suspend a previous ruling by the US Court of International Trade that prohibited the enforcement of an executive order by the Trump administration to impose additional tariffs on multiple countries under the International Emergency Economic Powers Act. The US Court of Appeals for the Federal Circuit also ordered both parties to submit written arguments on the issue of blocking the imposition of tariffs, with relevant documents due to be submitted by early next month. The court will then decide on the next steps. The US dollar showed a relatively small reaction to this news. Concerns that tariffs would lead to an economic slowdown and reignite inflation had weakened the US dollar, while the erratic nature of Trump's policies was seen as diminishing the appeal of US assets to foreign investors. Due to fears of rising inflation, the US Fed had been holding off, as Fed officials were waiting to see how trade policies would affect the US economy. During a private meeting at the White House on Thursday, Trump told Fed Chairman Powell that it was a "mistake" not to cut interest rates, expressing in person a view he had made public several times over the past few months. Earlier this week, after Trump postponed plans over the weekend to impose 50% tariffs on EU imports, US economic pessimism had eased somewhat. Data released by the US showed that the increase in initial jobless claims last week exceeded expectations, and the unemployment rate in May appeared to have rebounded somewhat, indicating that as tariffs cast a shadow over the economic outlook, the number of layoffs continued to rise, weakening the US dollar as a result. Investors were also monitoring the progress of tax cut and spending bills under consideration in Congress. Amid growing concerns about the deterioration of the US fiscal outlook, yields on longer-term US Treasuries rose last week, and demand for the Treasury's 20-year bond auction was weak. In other currency news: The euro rose 0.73% against the US dollar in New York late trading, closing at $1.1374, after dipping to $1.1209, its lowest level since May 19. The US dollar fell 0.57% against the Japanese yen, closing at 143.99 yen. Earlier, it had reached 146.28 yen, its highest level since May 15. The US dollar fell 0.59% against the Swiss franc, closing at 0.822. Earlier this week, the yen also weakened against the US dollar amid reports that Japan would consider cutting the issuance of ultra-long-term bonds following a recent sharp rise in yields. In terms of data: Today, data including the monthly rate of US personal spending in April, the annual rate of the US core PCE price index in April, the annual rate of the US PCE price index in April, the preliminary monthly rate of US wholesale inventories in April, the Chicago PMI for May, the final value of the University of Michigan consumer sentiment index for May, the annual rate of Tokyo CPI in Japan for May, the unemployment rate in Japan for April, the monthly rate of actual retail sales in Germany for April, the annual rate of actual retail sales in Germany for April, the preliminary annual rate of Germany's CPI for May, the annual rate of seasonally adjusted M3 money supply in the eurozone for April, the annualized quarterly rate of Canada's Q1 GDP, the seasonally adjusted quarterly rate of Canada's Q1 GDP, and the annual rate of Canada's seasonally adjusted GDP for March will be released. Additionally, on May 30, the Taiwan Stock Exchange in China was closed for the day due to the Dragon Boat Festival holiday, while the Shanghai Gold Exchange, Shanghai Futures Exchange (SHFE), Zhengzhou Commodity Exchange, and Dalian Commodity Exchange (DCE) in China had no night session trading on the eve of the Dragon Boat Festival. Federal Reserve Governor Adriana Kugler will deliver the opening remarks at the Fifth Annual Online Symposium on Macroeconomics and Finance hosted by the Federal Reserve. Crude oil: Oil prices in both markets rose overnight, with US crude and Brent crude both falling by 1.49%. Investors weighed the potential impact of possible changes in the global trade landscape. The market is also monitoring the possibility of the US imposing new sanctions to curb the flow of Russian crude oil, as well as whether OPEC+ will decide to increase production in July. According to CCTV News, on May 28 local time, a CCTV reporter learned that the US Court of International Trade had blocked the implementation of the tariff policy announced by US President Trump on "Liberation Day" on April 2, ruling that Trump had exceeded his authority by imposing across-the-board tariffs on countries that export more to the US than they import. Driven by this news, oil prices rose at the beginning of the trading session. The ruling boosted risk appetite in global markets, but analysts said that given the US government's stated intention to appeal, this relief in pressure may only be temporary. Jim Ritterbusch of Ritterbusch and Associates, a US energy consulting firm, said in a report, "One interpretation of this reaction is that not much has changed, and the uncertainty that has persisted since the implementation of US tariff measures will continue." Fatih Birol, the Executive Director of the International Energy Agency (IEA), said on Thursday that developments in Russia and Iran are a "question mark" for oil prices, putting pressure on crude oil futures. In terms of oil supply, OPEC+, which consists of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, may agree to accelerate production increases in July. ING analysts said in a report, "We expect the group to agree to another significant supply increase of 411,000 barrels per day. We anticipate such increases to continue until the end of Q3, as the group is placing greater emphasis on maintaining market share." However, concerns about new sanctions on Russian crude oil persist. Mukesh Sahdev, Global Head of Commodity Markets at Rystad Energy, said in a report, "From May to August, the data shows a constructive bullish bias, with demand expected to exceed supply." He expects demand growth to outpace supply growth by 600,000-700,000 barrels per day. Crude oil futures narrowed some of their losses on Thursday. Data from the US Energy Information Administration (EIA) showed that US crude oil inventories unexpectedly fell by 2.8 million barrels in the latest week, declining to 440.4 million barrels, which contributed to crude oil futures narrowing some of their losses on Thursday. Analysts had previously expected crude oil inventory to increase by 118,000 barrels last week. (Wenhua Comprehensive)

The monthly Metal Index (MMI) for copper showed a downward trend, declining by 4.23% from March to April. Based on current copper prices, analysts appear to be grappling with ongoing changes in trade policies.

After falling to a low slightly above $3,100 last week, international gold prices staged another strong rebound this week amid escalating geopolitical tensions in the Middle East and the impact of Moody's downgrade of the US's Aaa sovereign credit rating, with overnight prices rebounding above the 3,300 integer mark once again. In response, Adam Gillard, an FICC analyst at Goldman Sachs, believes there is a clear logical support behind this trend: the buying power from China is returning once again. Specifically, gold buying initiated in the Chinese domestic market during the night session of the Shanghai Futures Exchange (SHFE) triggered a follow-up rally in the New York Mercantile Exchange (COMEX) market. The total open interest in COMEX increased by 3% (4% for silver), while the arbitrage spread between the two major markets, SHFE/CMX, widened significantly. Gillard particularly emphasized that despite gold prices having pulled back 8% from their highs, what impressed him was that the scale of gold holdings in China remained stable at a high level. This indicated that, unlike the typical behavior pattern of domestic momentum traders who tend to rush to buy amid continuous price rise and sell amid continuous price decline, the pullback in gold prices did not trigger a massive wave of selling. As shown in the chart below, the open interest in gold futures on the SHFE is now returning to high levels, having once again reached the highest level since Q4 2019. Meanwhile, the overall gold holdings in the Chinese market (ETF + Shanghai Gold Exchange + SHFE) also remain high. Note: Light blue represents gold prices, and dark blue represents overall gold holdings. Previously, Chinese customs data released on Tuesday showed that China's total gold imports last month reached 127.5 mt, hitting an 11-month high. Despite gold prices hitting record highs in April, touching $3,500 per ounce at one point, this import figure still surged 73% from March. Some institutions have suggested that the central bank's move to allocate new import quotas to some commercial banks in April may have been a key factor driving the surge in imports. In response, Goldman Sachs pointed out that China's gold imports (excluding central bank purchases) rebounded to a one-year high in April, likely related to arbitrage activities triggered by the pricing advantage of the Shanghai Gold Exchange over the London Bullion Market Association (LBMA). It is worth noting that despite gold prices remaining high overall, physical gold demand remains strong. This also explains, to some extent, why the premium level of gold prices on the Shanghai Gold Exchange has remained resilient—even as the precious metals market is currently facing a high-price environment. Note: Premium of gold prices on the Shanghai Gold Exchange. In fact, when gold prices surged last month, many market participants noticed the leading role of the Chinese market in the gold bull market. Goldman Sachs said at the time that the new highs and sharp corrections in gold prices over the past month "almost all occurred around the opening of the Chinese market" , and pointed out that the impact of capital flows through the Shanghai Gold Exchange and the Shanghai Futures Exchange on gold price trends was more significant than that of futures and options on the US New York Mercantile Exchange.

Data released by the London Metal Exchange (LME) showed that LME tin inventory fluctuated within a range last week, with the latest inventory level at 2,790 mt, a relatively low level in the past two years. Data released by the Shanghai Futures Exchange (SHFE) indicated that SHFE tin inventory continued to decline in the week ending May 9, with weekly inventory decreasing by 2.13% to 8,719 mt, reaching a new low in over a month. Note: Generally, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices. Comparison of tin inventory between LME and SHFE since 2023 The following are tin inventory data for LME and SHFE since April 2025: (Unit: mt)

Data released by the London Metal Exchange (LME) showed that after LME zinc inventory rose to a three-month high on April 17, it entered a downward trend, with inventory continuing to pull back last week, reaching the latest level of 169,850 mt. Data released by the Shanghai Futures Exchange (SHFE) indicated that during the week of May 9, SHFE zinc inventory continued to decline, with weekly inventory decreasing by 2.84% to 47,102 mt, hitting a nearly three-month low. Note: Generally, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices. Comparison of LME and SHFE Zinc Inventory Since 2023 The following are the zinc inventory data for the LME and SHFE since April 2025: (Unit: mt)

Data released by the London Metal Exchange (LME) showed that LME aluminum inventory continued its downward trend last week, with the latest inventory level at 403,550 mt, hitting a new low in over two years. Data released by the Shanghai Futures Exchange (SHFE) indicated that SHFE aluminum inventory continued to decline in the week ending May 9, marking its sixth consecutive week of decline. Weekly inventory decreased by 3.52% to 169,665 mt, reaching a new low in over a year. Note: Generally, a continuous decline in inventory at domestic and overseas exchanges will support futures prices, while the opposite will have a bearish impact on futures prices. Comparison of LME and SHFE aluminum inventory since 2023 The following are the aluminum inventory data for the LME and SHFE since April 2025: (Unit: mt)

During the Labour Day holiday, risk events piled up in global financial markets. The Bank of Japan kept interest rates unchanged as expected and lowered its economic growth forecast. The robust US April non-farm payrolls report pushed back expectations for US Fed interest rate cuts. OPEC agreed to increase oil production by 411,000 barrels per day (bpd) in June and is expected to further accelerate the pace of production increases. The US economy contracted for the first time in three years in Q1, as businesses stockpiled goods ahead of tariff implementation, leading to record imports. US manufacturing contracted further in April, with tariffs squeezing supply chains and keeping input prices elevated. Initial jobless claims in the US rose to a two-month high, exceeding market expectations. US stocks climbed steadily, with the three major indices hitting fresh highs in over a month, focusing on the Fed's policy outlook. Japanese stocks rose for the seventh consecutive trading day, marking the longest winning streak since August 2023. Hong Kong's Hang Seng Index hit a nearly one-month high amid signs of easing trade tensions. The US dollar index pulled back from three-week highs, supported by strong employment data and a relaxation in trade tensions. The offshore yuan strengthened past the 7.20 mark against the US dollar for the first time since November last year. In commodities, CBOT soybeans bottomed out and rebounded, having briefly touched a two-week low, influenced by trade war sentiment. LME copper continued to rebound in May, with hopes pinned on an easing of trade tensions. Gold prices rebounded from a two-week low, weighed down by a robust jobs report. Oil prices continued to probe lower amid concerns over increased supply due to OPEC's accelerated production increases. **US Stocks Rise for Second Consecutive Week** US stocks rose significantly during the Labour Day holiday, with the weekly index rising for the second consecutive week. The three major indices hit fresh highs in over a month, supported by strong economic data and the potential easing of trade tensions. The US added 177,000 jobs in April, exceeding expectations, with the unemployment rate holding steady at 4.2%. The data helped alleviate concerns about an economic slowdown. Earlier, the US Commerce Department reported that US GDP contracted for the first time in three years, impacted by a surge in tariff-induced imports. The Fed's meeting this week will test the significant rebound in US stocks, with investors expecting the Fed to resume interest rate cuts in the coming months. Although the market widely expects the Fed to keep borrowing costs unchanged when it issues its monetary policy statement on Wednesday, market pricing suggests that the Fed may cut interest rates as early as June. **US Dollar Index Pulls Back from Three-Week High** The US dollar rose to a three-week high during the Labour Day holiday. Despite the contraction in US GDP, other data suggested the economy remained resilient, while investors assessed the prospects of a deal between the US and its trading partners. The US economy contracted in Q1, worse than market expectations but better than the pessimistic forecasts of some major US banks. The US Commerce Department reported that US GDP contracted at an annualized rate of 0.3% in Q1 on a QoQ basis. The world's largest economy added more jobs than expected in April, reflecting a stable labour market. The US Bureau of Labor Statistics' Bureau of Labor Statistics said that non-farm payrolls increased by 177,000 in April, with the March figure revised down to an increase of 185,000 from a previous increase of 228,000. The April unemployment rate held steady at 4.2%, helping to ease concerns about an imminent US recession. The jobs report strengthened expectations that the Fed would keep interest rates unchanged at its next few meetings and not cut rates until summer. **CBOT Soybeans Bottom Out and Rebound** US soybeans bottomed out and rebounded during the Labour Day holiday, with the weekly index rising 1.19%. They touched a two-week low on the last trading day of April, mainly influenced by trade war sentiment. Entering May, they rebounded from a two-week low amid hopes of an easing of trade tensions. The US Department of Agriculture's export sales report released on Thursday showed that net export sales of soybeans for the current marketing year in the US increased by 428,200 mt in the week ended April 24, up 55% from the previous week and 27% from the four-week average. Market estimates ranged from a net increase of 150,000 mt to a net increase of 600,000 mt. On May 2 (Friday), data released by the US Commodity Futures Trading Commission (CFTC) showed that large speculators reduced their net long positions in CBOT soybean futures and options by 59 lots to 5,768 lots in the week ended April 29. **LME Copper Rebounds After Initial Decline** LME copper futures bottomed out and rebounded during the Labour Day holiday, having fallen over 3% on the last trading day of April and 6% for the month, the largest monthly decline since June 2022, dragged down by lingering trade uncertainties. US Comex copper futures fell 5.5% on Wednesday, with the sharp decline attributed to investors liquidating arbitrage positions held in anticipation of US tariffs on copper. Entering May, LME copper continued to rebound, with hopes pinned on an easing of trade tensions providing support for copper prices. Copper inventories monitored by the Shanghai Futures Exchange (SHFE) fell 23.5% from last Friday to 89,307 mt, the lowest since January 17, providing support for copper prices. Inventories plunged nearly one-third last week. Data released by the CFTC showed that speculators increased their net long positions in COMEX copper futures and options by 3,424 lots to 20,013 lots in the week ended April 29. The London Metal Exchange (LME) market was closed on Monday (May 5) for the UK's early May bank holiday and resumed trading on Tuesday (May 6). **NYMEX Crude Oil Continues to Probe Lower** International oil prices continued to probe lower during the Labour Day holiday, with both major benchmarks hitting new lows since April 9. In April, Brent crude futures fell 18%, and US crude futures fell 18%, the largest monthly decline since November 2021. Oil prices suffered their largest weekly decline since late March last week. Brent crude fell over 8%, and US crude fell about 7.7%. Concerns over increased supply arose as OPEC is expected to further accelerate production increases. Eight OPEC countries agreed on Saturday to increase oil production by 411,000 bpd in June. Barclays and ING lowered their Brent crude forecasts following the OPEC decision. Barclays cut its Brent crude forecast for 2025 by $4 to $66 per barrel and its 2026 forecast by $2 to $60 per barrel, while ING expects the average price of Brent crude this year to fall to $65 from a previous estimate of $70. The US Energy Information Administration (EIA) said on Wednesday that US crude oil inventories fell unexpectedly last week due to increased exports and refinery demand, while gasoline inventories declined for the ninth consecutive week. The EIA said that US crude oil inventories fell by 2.7 million barrels to 440.4 million barrels in the week ended April 25, while analysts surveyed by Reuters expected an increase of 429,000 barrels. The EIA said that crude oil inventories at the Cushing, Oklahoma, futures delivery hub rose by 682,000 barrels last week. Data released by the CFTC showed that fund managers increased their net long positions in US crude oil futures and options in the week ended April 29. The data showed that speculators increased their net long positions in WTI crude oil futures and options in New York and London by 2,716 lots to 116,599 lots in the week. **Gold Prices Rebound from Two-Week Low** Gold prices bottomed out and rebounded during the Labour Day holiday, having briefly touched a two-week low and falling for the second consecutive week, weighed down by an easing of trade tensions and a robust jobs report. Gold prices rose over 2% on Monday, driven by a weaker US dollar and safe-haven demand, as the market awaited the Fed's policy decision later in the week. The US Bureau of Labor Statistics' Bureau of Labor Statistics said that non-farm payrolls increased by 177,000, compared with an expected increase of 130,000, with the March increase revised down to 185,000. Following the report, traders bet that the Fed would wait until July to begin cutting interest rates, having previously expected a cut in June. Barclays and Goldman Sachs also pushed back their estimates for interest rate cuts from June to July. Data released by the CFTC showed that speculators reduced their net long positions in COMEX gold futures and options by 9,857 lots to 115,865 lots in the week ended April 29. In the same week, speculators increased their net long positions in COMEX silver futures and options by 5,078 lots to 31,252 lots. US Data: The US economy contracted for the first time in three years in Q1, as businesses imported heavily to avoid cost increases caused by tariffs, underscoring the disruptive nature of President Trump's chaotic trade policies. The US Bureau of Economic Analysis said that US GDP contracted at an annualized rate of 0.3% on a QoQ basis in Q1, the first contraction since Q1 2022. Another report on monthly consumer spending showed that consumer spending rose 0.7% in March, higher than the expected increase of 0.5%. Consumer spending accounts for more than two-thirds of the US economy. The ADP National Employment Report showed that private sector job growth in the US slowed more than expected in April. Only 62,000 jobs were added, with the March increase revised down to 147,000. Economists had previously forecast 115,000 job additions in April. US manufacturing contracted for the second consecutive month in April, with tariffs on imported goods putting pressure on supply chains, keeping factory ex-factory prices elevated, and prompting some companies to lay off workers. The US Institute for Supply Management (ISM) said on Thursday that its manufacturing purchasing managers' index (PMI) fell to 48.7 in April from 49.0 in March, the lowest in five months. A PMI below 50 indicates contraction in the manufacturing sector, which accounts for 10.2% of the economy. A report released by the Labor Department showed that initial jobless claims rose by 18,000 to a seasonally adjusted 241,000 in the week ended April 26. The US Bureau of Labor Statistics' Bureau of Labor Statistics said that non-farm payrolls increased by 177,000 in April, with the March figure revised down to an increase of 185,000 from a previous increase of 228,000. Economists had previously forecast 130,000 job additions in April. The April unemployment rate held steady at 4.2%, helping to ease concerns about an imminent US recession. The US services PMI rose 0.8 points MoM to 51.6 in April, with the index measuring prices paid by businesses for materials and services surging to its highest level in over two years, indicating that tariff-induced inflationary pressures are increasing. The survey showed that US services companies are concerned about the impact of Trump's tariffs on prices and a sharp drop in federal spending due to the government's pursuit of significant spending cuts. **OPEC Agrees to Increase Oil Production by 411,000 bpd in June** Eight OPEC countries agreed on May 3 to increase oil production by 411,000 bpd in June. In a statement, OPEC said that Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirmed their commitment to maintaining market stability amid current healthy oil market fundamentals and raised production. OPEC said that its policy of gradually increasing production may be paused or reversed depending on changes in market conditions. The statement also said that the eight OPEC countries would hold their next meeting on June 1. Risk events in financial markets remain abundant after the holiday. The Fed begins a two-day policy meeting on Tuesday and will announce its interest rate decision on Wednesday. Although the market widely expects the Fed to keep interest rates unchanged on Wednesday, the focus will be on when the Fed may restart its easing cycle and whether policy action will be taken at the June meeting. China will release its April trade data on May 9 and April inflation data on May 10. In addition, the Bank of England will announce its interest rate decision and meeting minutes on Thursday.