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The US Federal Reserve has raised interest rates for the first time since 2023, according to ABC News. The move ends a long pause in monetary policy and signals the central bank's response to current inflation and economic conditions. The decision is likely to affect borrowing costs for consumers and businesses across the United States.

Bank of England Governor Andrew Bailey said it is too early to judge whether second-round inflation effects will take hold in the UK economy. His comments come as policymakers weigh how persistent price pressures remain after recent episodes of elevated inflation, with markets watching closely for signals on the future path of interest rates.

Huw Pill, chief economist at the Bank of England, said he is skeptical that four interest rate increases will be required to bring UK inflation back to target. His comments give markets a read on the central bank's tightening path, with investors weighing how aggressive policymakers will need to be as they balance persistent price pressures against risks to growth.

The Monetary Authority of Singapore has unexpectedly paused its monetary policy, keeping its exchange rate-based settings unchanged in a decision that caught many analysts off guard. The move suggests the central bank sees current conditions as sufficiently stable after a period of adjustments, and markets and economists are now reassessing expectations for Singapore's monetary stance in the months ahead.

European officials are moving ahead with plans to build a homegrown payments system designed to reduce reliance on US giants Visa and Mastercard. The initiative aims to give European banks, merchants and consumers an independent alternative for card payments and digital transactions, strengthening the continent's financial sovereignty amid growing geopolitical tensions.

Donald Trump's legal battle over Deutsche Bank records related to the US Supreme Court is drawing widespread attention, with explainers breaking down what the ruling means for the former president's financial documents. Commentators are debating the ruling's implications for presidential records, congressional and prosecutorial access, and Trump's ongoing exposure to investigations into his finances.

A Wall Street Journal piece examines whether central banks can fight inflation with tools less damaging than raising interest rates, which slow growth, raise borrowing costs and can trigger recessions. Discussion centres on possible alternatives and their trade-offs as policymakers worldwide continue tightening monetary policy.

The United States is pressing European governments to release frozen assets belonging to Russia's central bank, according to reporting by IntelliNews. The request, if acted on, would mark a significant shift in Western sanctions policy imposed after Russia's invasion of Ukraine. European capitals have so far kept the assets immobilised, and any move to unfreeze them is likely to face strong resistance from Ukraine and its allies.

US inflation picked up pace in September, reviving expectations that the Federal Reserve could raise interest rates at its meeting this month. The stronger-than-hoped consumer price data suggests price pressures remain persistent, and markets and analysts are now reassessing whether the central bank will deliver another hike or hold rates steady.

Kevin Warsh, a leading candidate for Federal Reserve chair, declined to signal his view on whether the central bank should cut interest rates at its October meeting. His refusal to tip his hand has drawn attention from investors and analysts, who are watching for clues about the future direction of US monetary policy and how leadership change could affect rate decisions.

A Reuters poll of economists points to the Bank of England raising interest rates to 4% at its November meeting. However, respondents are narrowly split over what comes next, with a slight majority expecting the BoE to then hold rates steady rather than continue tightening, suggesting markets see the hiking cycle nearing its peak.

Federal Reserve Chair Kevin Warsh said price stability remains the central bank's top priority, but declined to give signals about the future path of interest rates. His comments were carried widely across US media, with outlets noting his reluctance to hint at the direction of monetary policy. Investors and economists are watching for clues on whether rates will move in the coming months.

Ukrainian drones struck Sberbank's data centre in Balakovo, Saratov region, reportedly the fourth Russian data centre hit in recent strikes. The facility is one of Russia's largest, serving the country's biggest bank, and the attacks raise questions about the vulnerability of critical financial and digital infrastructure deep inside Russia as the war continues.

BBC Verify reports that the Israeli military has opened hundreds of investigations into killings of Palestinians, but the vast majority have produced no publicly announced outcome. The review examined cases from the war in Gaza and the West Bank, raising questions about accountability and transparency in how the IDF handles alleged unlawful deaths.

Iran's central bank governor has publicly rejected claims that the country's economy is collapsing, pushing back against reports of a worsening crisis under the US blockade. The comments come as Iran faces tight American sanctions restricting trade and banking. His remarks aim to reassure markets and the public that the financial system remains stable despite mounting external pressure.

Francois Villeroy de Galhau, governor of the Bank of France, told CNBC that France is 'putting the house in order' and can bring its budget deficit down to 3% of GDP within three years. The comments come as France faces pressure over its public finances and political uncertainty over the budget, and will be scrutinised by investors watching French borrowing costs.

The Indian rupee jumped in value after the Reserve Bank of India announced a package of measures aimed at defending the currency. The steps, unveiled by India's central bank, lifted the rupee in trading and drew attention from markets watching pressures on the currency. Details of the full measures and their long-term effect remain to be seen.

Federal Reserve chair Jerome Powell says he will remain on the central bank's board of governors after his term as chair expires next month. The announcement clarifies his future at the Fed amid ongoing debate over his tenure and the direction of US monetary policy, drawing attention from markets and policymakers.

A deputy governor of the Bank of Thailand said the central bank can afford to keep interest rates unchanged for now, signaling no immediate move on monetary policy. The remarks suggest officials see current settings as appropriate while they assess inflation and growth. Traders and analysts are watching closely for any hint of when Thai rate cuts might come.

Algeria has condemned Colombia's decision to open its embassy in Jerusalem, calling the move a violation of international law. The news circulated alongside other Palestine-related headlines, including reports that Israel established a new colonial outpost east of Salfit in the West Bank, and that US human rights organizations are urging Congress to act. Algeria's statement reflects broader Arab and Muslim positions opposing diplomatic recognition of Jerusalem as Israel's capital.

Ukrainian drones struck a datacenter belonging to Russia's largest bank, Sberbank, in a facility reportedly worth around $1 billion. The attack marks an escalation in long-range strikes targeting Russian financial and digital infrastructure. Commentators are weighing the potential disruption to Sberbank's services and what it says about Ukraine's ability to hit high-value targets deep inside Russia.

Italy plans to raise almost €11 billion from the financial sector over the next three years, according to a Reuters report. The measure is part of the government's budget planning and will involve contributions from banks and insurers, adding to debate over Rome's reliance on the financial industry to shore up public finances.

A Reuters poll of economists indicates the Bank of England will raise interest rates to 4% at its November meeting, but respondents narrowly expect the central bank to then hold rates steady rather than increase them further. The survey points to expectations that UK rates are close to their peak, despite ongoing concerns about persistent inflation.

European Central Bank governing council member Gediminas Simkus said inflation pressures in the euro area warrant further monetary tightening, signalling support for additional interest rate hikes. His comments add to the debate among policymakers over how far the ECB still needs to go to bring inflation back to its 2% target, with investors watching closely for guidance on the size and timing of the next move.