Russia plans defense spending of 17.1 trillion rubles in 2027, up from an initial plan of 13.5 trillion rubles.

S&P/ASX 200 closed up 0.2% on Monday, led by financials. Markets are positioned for a rate hike expected from the Reserve Bank of Australia on Tuesday, with pricing almost certain. KCM Trade chief market analyst Tim Waterer said the move is largely priced in, shifting focus to whether the RBA signals further tightening or a more cautious, data-driven stance. Any hawkish guidance would likely pressure rate-sensitive sectors; milder wording could help sustain recent gains. A more hawkish signal on Tuesday could quickly dent equity upside.

ECB President LAGARDE said the inf outlook for 2027 and 2028 will be higher than the ECB expected a few months ago.