LONDON - UK inflation is expected to hit a near-term ceiling on Wednesday, just ahead of the Bank of England’s November policy decision and the Autumn Budget.

An analysts’ poll forecasts headline CPI to rise two tenths to 4.0% y/y in September, up from 3.8% previously and broadly in line with the BoE’s latest projection. On the month, prices are expected to ease to a 0.1% increase from 0.3%. (LiveSquawk - Continue Reading)

Data out of Canada showed inflation rose more than expected last month, likely dampening—rather than extinguishing—hopes of a rate cut next week from Bank of Canada policymakers.

Statistics Canada said headline CPI accelerated 2.4% y/y in September, two tenths above forecasts and up from 1.9% previously. On the month, prices climbed 0.1%, versus the 0.1% decline predicted and recorded prior.

The core inflation gauges favoured by the BoC were mixed. The median rose 3.2% y/y, two tenths higher than forecast and matching an upwardly revised August reading. The trim measure printed at 3.1% y/y, a tenth higher than both expectations and last month.

Analysts noted that the upside surprise was concentrated outside core categories, driven mainly by higher food prices, a rebound in travel-related costs, and unfavourable base effects. (LiveSquawk – Continue Reading)

The Trump administration is taking advantage of low oil prices and buying 1 million barrels to start refilling the nation’s depleted emergency crude supply.

The Energy Department announced Tuesday that it plans to buy oil for delivery in December and January, using a portion of the $171 million from President Donald Trump’s signature tax and spending law allotted for crude purchases. (Bloomberg – Continue Reading)

Russia reiterated its previous terms for reaching a peace deal with Ukraine in a private communique sent to the U.S. over the weekend known as a "non paper," according to two U.S. officials and a person familiar with the situation.

The communique reiterated Russia's demand that it take control of all of Ukraine's Donbas region, one of the U.S. officials said, a stance that effectively rejects Trump's view that the frontlines should be frozen at their prevailing locations. (Reuters – Continue Reading)

China is in talks with Japan and South Korea – both US allies – about a possible trilateral currency swap to bolster the region’s financial safety net and deepen economic cooperation amid US President Donald Trump’s trade war, according to a source familiar with the issue.

Pan Gongsheng, governor of the People’s Bank of China (PBOC), touched on the issue with his South Korean and Japanese counterparts, Rhee Chang-yong and Kazuo Ueda, on the sidelines of the IMF-World Bank annual meetings in Washington last week, the source said.

“They have been pushing for trilateral cooperation, with talks going on for a while,” the person said on the condition of anonymity.

Currency swaps are an often-used tool between central banks to provide local currency liquidity. It can also offer financial relief during debt crises on top of rescue operations by multilateral institutions. (SCMP – Continue Reading)

Canada’s statistics agency says it hasn’t received any data on US imports of Canadian goods for September, raising the possibility that it won’t be able to proceed with a scheduled release of trade figures on Nov 4.

Government agencies collaborate to share information on the shipment of goods across borders. But when the US government began a partial shutdown on Oct. 1, “no data on Canada’s exports to the United States for September 2025 had been received,” Cristobal D’Alessio, a spokesperson for Statistics Canada, said by email. (Bloomberg – Continue Reading)