News

The UK energy regulator OFGEM says the abolition of VAT will benefit customers currently on flat-rate packages, as suppliers will automatically apply discounts.

The UK's energy regulator OFGEM announced that from October, the price cap will increase by £60 per year (or £5 per month) to £1,723 for households using both electricity and gas.

The UK's energy regulator OFGEM has stated in this update that the government's decision to abolish VAT on all household electricity bills has been reflected in the decision.

The UK's energy regulator OFGEM says that traditional households currently using direct debit to pay for gas and electricity have a cap of £1,663 on energy prices.

The UK's energy regulator OFGEM stated that the price increase is due to the impact of the Middle East conflict on the international wholesale natural gas market.

The UK's energy regulator, OFGEM, announced that the energy price cap will be raised by 4% from October 2026.

The yield on Japan's 40-year government bonds fell 2.0 basis points to 4.130%.

Core PCE Price Index YoY (Previous: +3.3%; Reuters poll: +3.3%) 1. Capital Economics: +3.2%; Citigroup: +3.2%; Goldman Sachs: +3.2%; Scotiabank: +3.2%; Barclays: +3.2%; 2. Societe Generale: +3.2%; Standard Chartered: +3.2%; Sparta Securities: +3.2%; Berenberg: +3.3%; BNP Paribas: +3.3%; 3. Bank of America: +3.3%; Imperial Bank of America: +3.3%; DekaBank: +3.3%; HSBC: +3.3%; BMO: +3.3%; 4. ING: +3.3%; JPMorgan Chase: +3.3%; Nomura Securities: +3.3%; RBC Capital Markets: +3.3%; Bank of Helmand: +3.3%; 5. Sumitomo Mitsui: +3.3%; TD Securities: +3.3%; Stieffer: +3.3%; UBS: +3.3%; Monex Group: +3.3%; 6. Wells Fargo: +3.3%; Lloyds Banking Group: +3.3%; Morgan Stanley: +3.3%; Bank of Gazprom: +3.3%; High Frequency Economics: +3.4%. Core PCE Price Index Monthly Rate (Previous: +0.1%; Reuters Survey: +0.2%) 1. Bank of America: +0.2%; Capital Economics: +0.2%; Citigroup: +0.2%; Commerzbank: +0.2%; Barclays: +0.2%; 2. DekaBank: +0.2%; GDB: +0.2%; HSBC: +0.2%; Goldman Sachs: +0.2%; Deutsche Bank: +0.2%; 3. ING: +0.2%; Mizuho Bank: +0.2%; Moody's Analytics: +0.2%; Nomura Securities: +0.2%; Heleba Bank: +0.2%; 4. Oxford Economics: +0.2%; Pansen Macro: +0.2%; RBC Capital Markets: +0.2%; Sumitomo Mitsui: +0.2%; Morgan Stanley: +0.2%; 5. Societe Generale: +0.2%; Standard Chartered: +0.2%; Steifel: +0.2%; TD Securities: +0.2%; Monex Group: +0.2%; 6. Wells Fargo: +0.2%; BNP Paribas: +0.3%; JPMorgan Chase: +0.3%; Santander: +0.3%; High Frequency Economics: +0.4%.

ANZ Bank now expects the Reserve Bank of Australia to raise interest rates by 25 basis points in November.

ECB Executive Board member Schnabel: At the current policy rate, inflation is unlikely to return to the target level in the medium term, and further tightening of policy will be necessary.

ECB Executive Board member Schnabel: The risks to economic growth are slightly tilted to the upside.

ECB Executive Board member Schnabel: Given the resilience of the economy, interest rates must be raised further.

ECB Executive Board member Schnabel: The economy appears to be accelerating further. Inflation is likely to remain above 2% for an extended period.

ECB Executive Board member Schnabel: The ECB must prevent a second wave of inflation as early as possible. The market seems to have a good understanding of the ECB's response mechanism. The extent of tightening will depend on upcoming data.

A fire at a natural gas plant in Russia's Amur region has killed seven people and left nine others missing.

Sources say that BNP Paribas and KB National Bank are in talks to acquire shares in Vietnam’s Techcombank, a deal that could be worth up to $2 billion.

Mokhtar Haddad, editor-in-chief of the Iranian newspaper Al-Vifaq, stated that recent reports in the US media regarding the US Secretary of State's statement that there would be no new strikes against Iran reveal a clear strategy: the US hopes to maintain the current standoff before the midterm elections and then resume broader military operations after the elections. The midterm elections are crucial for them; they want to get through this phase before launching any military action. However, Iran will not simply wait for the midterm elections to conclude. Furthermore, Haddad stated that the blockades and sanctions announced by the US are not substantially new, and anyone familiar with US policy can see that they are nothing new. If Iran sees that the US has not complied with its conditions and has not returned to the memorandum of understanding, Iran will take necessary measures. Iran's adjustments to its military strategy during this period reflect this attitude.

According to Russian media citing the Russian Ministry of Defense, the Russian military shot down 426 drones overnight.

Japanese Minister of Economy, Trade and Industry Minoru Jonouchi: The CPI is expected to gradually rise due to the situation in the Middle East.

The Russian Ministry of Defense reported that the Msta-S artillery group from the 288th Guards Artillery Brigade destroyed a Ukrainian drone command post near Kupyansk.