Eurozone Inflation Hits 2.8%, ECB Prepares Rate Hike

European markets saw modest gains on Friday as the region's inflation rate ticked up in July, putting pressure on the European Central Bank (ECB) to hike interest rates again in September.

The euro area inflation rate rose by a tad more than expected, with Italy's preliminary CPI coming in at 2.8% year-over-year, matching forecasts.

German unemployment also saw a slight increase in July, exceeding anticipated levels.

The BOJ governor, Ueda, stated that the bank will maintain its monetary policy stance to keep pace with economic and financial conditions.