Koeda, a Bank of Japan policy board member, said that given steady broad wage growth, Japan's persistent inflation appears more pronounced than before.

China Federation of Logistics and Purchasing (CFLP) published the September China road freight rate index at 105.1, up 0.14% MoM and 0.06% YoY. CFLP said seasonal headwinds are easing and road logistics activity is picking up, with freight rates rising modestly.

The IEA said Russia’s September crude production rose 65,000 bpd from August to 8.43 mln bpd, still roughly 870,000 bpd below a year earlier. Russian crude exports rose 60,000 bpd to 5.30 mln bpd. The agency said recent easing of Russian diesel export curbs is unlikely to materially change global diesel balances because refinery throughput remains constrained; Ukrainian attacks have kept Russian refinery runs low for a second month. Kazakhstan’s September crude output was stable at about 1.90 mln bpd.