Yemen’s Houthi movement claimed an attack on the Saudi Ministry of Defense in Riyadh; Saudi authorities did not confirm the claim.

HSBC cut its UK 2027 GDP forecast to 1.1% from 1.4% at the start of the year and from 1.2% in August, citing high inflation and elevated interest rates weighing on consumer spending and the housing market. In its baseline scenario HSBC now expects unemployment to rise to 5.2% versus a prior 4.7% forecast. The revision comes a day before Chancellor John Healey's budget; markets expect measures targeting bank profits, including a proposal to raise the bank surcharge on corporation tax from 3% to 8%.

MAYBANK economists say the PHILIPPINE C.BANK could raise the policy rate by 25bps to 5.75% in December and then pause, holding rates through end-2027. The central bank has hiked four times this year, totalling 125bps. Maybank notes the lagged effects of tightening are weighing on domestic demand; while further tightening is not ruled out if inflation risks increase, weak growth may constrain room for additional hikes.