State Statistics Service of Ukraine: Q1 GDP fell 0.6% YoY.

IRNA reports multiple explosions heard near Iran's Bandar Abbas airport and an adjacent air force base.

MHA economic adviser Joe Nellis said the ECB, despite weak growth, is likely to raise its policy rate on Thursday and appears to have learned from criticism that it reacted too slowly in 2022–23 when inflation topped 10%. He said policymakers are prepared to act decisively to curb inflation. Nellis added higher rates should attract capital, support the euro and exert downward pressure on prices, though they will not fully offset the growth cost.