Fed's MUSALEM said current excess inflation is driven by an energy shock and AI-related buildout.

Bank of Japan Governor UEDA to deliver a speech at the IMF and hold a dialogue with IMF Managing Director GEORGIEVA; remarks to be released in 10 minutes.

UBS strategists expect the Bank of England to raise rates again in February next year, lifting the terminal rate to 4.25% or higher. The Bank on Thursday updated its inflation forecast and projected inflation to rise to around 5% by mid-2027, signalling the prospect of further tightening. UBS says this implies at least one more 25bp hike and cannot rule out additional increases; LSEG data show markets have fully priced two cumulative hikes by mid-2027.