The IEA said the current energy crisis — including a US-Iran war that has disrupted Strait of Hormuz shipping and pushed gas and oil prices sharply higher this year — is accelerating renewables deployment in emerging markets outside China. In its annual outlook the IEA expects global renewable capacity to rise by nearly 4,800 GW in 2026-31; non-China emerging and developing economies are forecast to add about 1,100 GW, roughly equal to additions in advanced economies, while China is expected to

Former Bank of Japan chief economist Seisaku Kameda said he expects the BOJ to raise rates in December and continue tightening next year until a terminal policy rate of about 2% to counter rising inflation. He said Friday’s global selloff pushed Japanese equities sharply lower but is unlikely to stop a December hike unless volatility persists through the BOJ’s Dec. 17-18 meeting. Kameda warned a pause would be warranted only if an AI-driven market collapse provoked a severe U.S. downturn that hit Japan. He expects the BOJ to lift the policy rate to roughly 1.5% in December, then tighten at about a quarterly pace toward 2%, citing strong corporate profits and a planned food tax cut as supporting Japan’s capacity to absorb higher rates.

Asked about closer ties with the EU, Bank of England Governor Bailey said he supports strengthening trade ties and greater openness.