BANK OF JAPAN policy board member ASADA said Japan's inflation has reached about 2%, so there is little point in further driving it higher.

ONS data showed UK GDP rose 0.7% QoQ in Q3 (0.5% in Q2), matching consensus; September GDP grew 0.2% MoM versus 0.0% expected. Activity has outperformed despite the Iran war energy shock, partly driven by AI-related spending, prompting economists to raise 2024 forecasts. The print increases pressure for further tightening after the Bank of England's first rate rise in over three years last week; markets currently price a further BoE hike in December.

UK seasonally adjusted goods trade deficit widened to £22.29 billion in September, versus a forecast deficit of £19.45 billion; August's deficit was revised to £19.61 billion from £18.01 billion.