October 16, 2026
United States:
Energy Shock Filtering Through US Economy Complicates Fed’s Job
The energy shock is starting to spill across the US economy as businesses pass along rising costs, complicating the Federal Reserve’s task of stabilizing inflation.
Two reports this week showed sharp price increases last month in categories including airfares, delivery services and trucking as wars overseas pushed oil prices higher. The grocery aisle has so far largely been spared, but economists see upside risks to food prices down the line as well.
Europe:
BOE’s Bailey Sees Little Evidence of Second-Round Inflation
Bank of England Governor Andrew Bailey said there is little evidence yet of inflation becoming embedded in UK price and wage-setting.
The central bank is watching closely for signs that companies and workers are pushing up prices and wages to cover their own rising costs, setting off a second round of the inflation shock, Bailey said on Friday at the Institute of International Finance annual meeting in Bangkok.
Asia:
IMF Sees One More BOJ Hike Toward Neutral, Urges Flexibility
The International Monetary Fund expects the Bank of Japan to raise interest rates one more time toward the neutral rate, while stressing the need to remain flexible on subsequent steps amid heightened global uncertainty, according to its mission chief for the country.
“Under our baseline, we are expecting one more rate hike to move the policy rate to neutral,” Mission Chief for Japan Rahul Anand said in an interview Friday.
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