Bloomberg Surveillance

Uruguay’s central bank raised its benchmark interest rate by a quarter-point to 6% to keep consumer price expectations anchored after two months of above target inflation.

European Commission finance chief Valdis Dombrovskis urged euro-area member states to observe budgetary restraint, pushing back against a proposal from Italy and Greece to introduce additional leeway.

Congressional Budget Office Director Phillip Swagel warned the idea of embracing faster economic growth as the solution for reining in the US federal debt — one being championed by Treasury Secretary Scott Bessent — is unlikely to work.

The European Central Bank has the instruments to stabilize financial markets if required, President Christine Lagarde told euro-area finance ministers.

Poland is ready to increase interest rates for the first time in four years if inflation risks escalate, according to the central bank governor.

Nominations to succeed European Central Bank official Isabel Schnabel must be submitted by the end of the month as President Christine Lagarde’s future there remains shrouded in mystery.

Polish central bank Governor Adam Glapinski dismissed a parliamentary inquiry into his alleged wrongdoing as baseless and warned against its potential negative consequences for the country.

A sudden selloff of French bonds has stirred memories of the sovereign debt crisis that cascaded across Europe between 2009 and 2015. Attention is now turning to how the European Central Bank might respond.

Bank of England Governor Andrew Bailey warned governments may be left helpless in the event of another downturn as their firepower is sapped by weak growth and a series of severe shocks.

Global merchandise trade is holding up much better than was expected earlier this year, the World Trade Organization said, as artificial intelligence drives demand and fragmentation between geopolitical rivals stabilizes.

India withdrew a tax benefit on gold, silver and platinum imported by banks and state-nominated agencies, subjecting shipments to a 3% levy and raising costs for the main channels supplying one of the world’s largest bullion markets.

Applications for US unemployment benefits fell slightly last week to the lowest level since July, showing layoffs remain limited across the job market.

Mexican annual inflation accelerated slightly less than expected in September, validating the central bank’s current rate pause while awaiting greater clarity on the price outlook.

European Central Bank officials weighed the need to take further action on inflation last month alongside an assessment that any increase in borrowing costs would still not restrict growth, according to a summary of the meeting.

Chile’s consumer prices rose slightly less than forecast last month despite another increase in fuel costs, as central bankers signal they’ll remain cautious on monetary policy.

The measure is ‘state-guided and supply heavy,’ according to JPMorgan Chase economists.

Chinese auto imports are raising alarm bells about damage to domestic industries

The European Central Bank can take a “measured” response to the energy-price shock caused by conflict in the Middle East as spillovers to the rest of the economy remain limited, Chief Economist Philip Lane said.

China’s central bank rejected claims that the yuan is undervalued as trade talks proceed with the European Union, where officials have increasingly blamed trade imbalances on the exchange rate.

The number of Britons defaulting on credit card debt has risen for six consecutive quarters for the first time since the financial crisis in a sign that households are coming under severe pressure as a result of the Middle East conflict.