ECB chief economist Lane said he has not seen wages rise materially.

The PBOC said China has no need and no intention to devalue the RMB to secure a trade competitiveness edge. It noted a structural decline in Chinese trade’s sensitivity to exchange-rate moves and reiterated China has not pursued competitive devaluations during past external shocks. During the 1990s Asian financial crisis and the 2008 global financial crisis the RMB was kept broadly stable. Faced with recent trade tensions and sharp Fed tightening that pressured non-dollar currencies, the central bank said it has used macroprudential measures to prevent an overshoot in RMB depreciation.

Local time Oct. 8, Kyiv mayor Vitali Klitschko said Russian strikes on the capital killed four people and injured 19, two of them critically. Thirteen of the wounded were hospitalized; critical patients are under intensive care. Earlier the Ukrainian energy ministry reported Russian strikes on Kyiv power‑grid facilities, causing multiple outages, widespread blackouts in parts of the city and unstable electricity supply for many users.