ECB governing council member Dolenc said new projections in December will provide clear guidance.

As of 02:30, Shanghai gold main contract closed down 0.18% at 997 yuan/gram; Shanghai silver main contract closed up 1.35% at 16,915 yuan/kg; SC crude main contract closed up 4.76% at 601 yuan/barrel.

Japan's hybrid bond issuance is recovering as yield-seeking investors and borrowers seeking acquisition and refinancing funds without equity dilution return to the market. Higher yields and relatively wide spreads are attracting demand for subordinated hybrid debt, and rating agencies are granting partial equity credit to some issues. Despite higher interest rates, issuance in the fiscal year to Sept is expected to reach about ¥1.18 tln, the largest since FY2021. Nomura senior credit analyst Kazuma Ogino said corporate earnings remain broadly resilient and market credit concerns are limited; many bonds carry first-call options around five years, and expected calls would help limit investors' long-duration rate exposure, supporting demand.