In September, US headline inflation exceeded expectations, growing by 0.4% monthly and 3.7% annually, while core inflation met expectations at 0.3% monthly and 4.1% annually. UK GDP showed expected growth of 0.2% monthly and 0.5% annually in August.

However, UK industrial and manufacturing production fell below expectations, with monthly declines of -0.7% and -0.8%, respectively. The UK’s trade deficit for August was larger than anticipated at -15.95 billion pounds.

Central bank officials’ remarks:

– Centeno from the European Central Bank stressed labor market stability and the need to watch oil prices for inflation management.

– IMF General Manager Georgieva emphasized the necessity of keeping interest rates high due to persistently above-target inflation in many countries and the need for medium-term growth.

– Wunsch from the European Central Bank urged independent monetary policy, highlighted oil price risks, and suggested no immediate interest rate hikes if inflation meets forecasts.

– Villeroy from the European Central Bank emphasized interest rate duration over level and suggested the euro area may have peaked in core inflation.

– Pill from the Bank of England pointed out that many policy tightenings are still pending, and UK inflation remains high.

In the US, weekly unemployment benefit applications held steady at 209,000, just below the expected 210,000 applications.