The Global Week Ahead

Oct 12

Peace Comes to Gaza and Hostages Are To Be Released, The US Government Remains Shutdown, China Cuts off Rare Earth Exports, Argentina’s Milei Meets with Trump Again, and The Annual World Bank/IMF Take Place in Washington, DC

October 12 - 19, 2025

It will be a historic week as Middle Eastern leaders and President Trump gather in Sharm El-Sheikh, Egypt, to witness the signing of ceasefire between Israel and Hamas brokered by Trump. And, after more than two years of captivity, the remaining Israeli hostages are scheduled to be released on Monday. More than 250 Palestinian prisoners serving life sentences in Israeli prisons and more than 1700 detainees rounded up since Israeli forces entered Gaza are to be released.

The challenge now is to keep the ceasefire going in the second phase of the agreement. This includes questions about the future governance of Gaza, getting Hamas to disarm, and how to rebuild the devastated region.

Also this week, Argentine President Javier Milei will travel to Washington to meet with President Trump to discuss the newly inked bailout package the US is giving Argentina. The US Treasury intervened in the Argentine currency market to stabilize the peso. Milei is hoping to garner further support from Trump as mid-term elections approach in Argentina.

All this comes as China moved to impose tough new export controls on rare earths, lithium-ion batteries, and synthetic diamonds – a move which shocked many countries and triggered President Trump to impose new 100 percent tariffs on China on Friday. Markets are trying to ascertain how serious and long-term China’s moves are, or if it is merely a negotiating tactic by China’s President Xi in advance of a possible meeting with President Trump on the sidelines of the ASEAN meeting later this month.

Finally, the US federal government remains shutdown and from all indications, will remain shut down this coming week. There appears to be little to no real negotiations between Congressional Democrats and Republicans, and the House of Representatives is expected to remain out of session this coming week. Meanwhile, the Trump Administration has begun laying off federal employees as opposed to furloughing them. And with the shutdown, a number of US data releases will not be released.

This brings us to this week’s global economic and financial radar screen. Dominating the week will be the 2025 World Bank/IMF Annual meetings and the many side events being held in Washington – the most important being the Institute for International Finance’s annual member meeting – where numerous central bankers will pop by to give speeches and participate on panels.

Looking at the Americas, with the US federal government shutdown still going on, most major data releases are either being canceled or delayed (leaving the Federal Reserve will remain flying somewhat blind on data in advance of the next Federal Open Market Committee meeting, October 28 – 29.) The most important now-delayed release is the September CPI which was scheduled to come out October 15th. That report has now been rescheduled to October 24.

What is likely to guide markets is the large number of Federal Reserve and regional Fed speeches this week, including Fed Chair Jay Powell’s speech on Tuesday. Also, we would note this week we will see a number of major bank and financial institutions earnings reports including Bank of America, Morgan Stanley, JP Morgan, Goldman Sachs, Citigroup, and BlackRock.

Turning to Europe, we will see Eurozone labor market data releases and the German ZEW Survey on Tuesday, GDP numbers on Thursday, and lots of speeches from European Central Bank board members – including several by ECB President Christine Lagarde.

In Asia this week, the big economic releases will be coming out of China where trade figures are published on Monday and inflation data on Wednesday.

Below is the rest of our detailed report of the major geopolitical and geoeconomic events in the coming week:

Sunday, October 12, 2025

Global

· Nothing significant to report.

Americas

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Asia

Political/Social Events –

· The Afghan Taliban's foreign minister, Amir Khan Muttaqui, will visit India and will reportedly discuss developmental assistance, among other things.

Economic & Financial Reports/Events –

· Nothing significant to report.

Europe

Political/Social Events –

· The 2025 World Health Summit, an international strategic forum for global health, begins in Berlin, running until next Tuesday

Economic & Financial Reports/Events –

· Nothing significant to report.

Middle East

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Africa

Political/Social Events –

· Cameroon holds presidential elections. President Paul Biya is running for his 8th term in office. If he wins, he will be in office as president until he is 100 years old.

· Equatorial Guinea celebrates its Independence Day.

Economic & Financial Reports/Events –

· Nothing significant to report.

Monday, October 13, 2025

Global

· IMF/World Bank Annual Meeting week begins in Washington, D.C.

· The UN Security Council is scheduled to hold a briefing on the Great Lakes region, followed by consultations. In the afternoon, the Security Council is scheduled to hold consultations on the 1559 report (Lebanon).

· OPEC releases its monthly oil production report.

· The Nobel Prize in Economics is announced.

Americas

Political/Social Events –

· President Trump travels to Egypt to attend the Sharm El-Sheikh Summit for Peace will take place in Egypt. Multiple Middle Eastern leaders will attend the ceremony and witness the signing of the agreement to end the war in Gaza, negotiated by Trump.

· Canada celebrates Thanksgiving Day. Financial markets are closed.

· It is Columbus Day in the US. Stock markets are open, but the bond market is closed, as are most banks, and the US government is closed.

Economic & Financial Reports/Events –

· Philadelphia Federal Reserve Bank President Anna Paulson speaks on “A View from the Federal Reserve Bank of Philadelphia" before the National Association for Business Economics 67th Annual Meeting," Global Economy in Transition: Finding Opportunity Amid Disruption.”

· Brazil Business Confidence (October)/ BCB Focus Market Readout

· Uruguay Industrial Production (August)

· Paraguay Balance of Trade (September)

· Ecuador Balance of Trade (August)

Asia

Political/Social Events –

· President Xi Jinping to attend the opening ceremony of the Global Leaders’ Meeting on Women in Beijing, where he will deliver a keynote speech.

· Canadian Foreign Minister Anita Anand travels to New Delhi to meet with meets with India’s Minister of External Affairs, Subrahmanyam Jaishankar. Anand then travels to Singapore for a meeting with Foreign Minister Vivian Balakrishnan. From there, Anand travels to China for talks with China’s Director of the Office of the Central Commission for Foreign Affairs and Minister of Foreign Affairs, Wang Yi.

Economic & Financial Reports/Events –

· New Zealand Services NZ PSI (September)/ Visitor Arrivals (August)

· Sri Lanka Tourist Arrivals (September)

· China Imports/ Exports/ Balance of Trade (September)/ Vehicle Sales (September)

· India Inflation Rate (September)

· Singapore Monetary Policy Statement

Europe

Political/Social Events –

· European Commission President Ursula von der Leyen travels to Albania to meet with President Bajram Begaj and Prime Minister Edi Rama. She will participate in the opening ceremony of the EU-Western Balkans Investment Forum. Later, she travels to Montenegro to meet with President Jakov Milatovic and Prime Minister Milojko Spajic.

· The 71st Annual Session of the NATO Parliamentary Assembly will be held in Ljubljana, Slovenia

· There will be an informal meeting of EU Trade Ministers through October 14 in Horsens, Denmark.

· There will be a meeting of the EU Justice and Home Affairs Council (Justice) in Luxembourg. The ministers are expected to discuss the rule of law, the “fight against Russian impunity,” and Eurojust.

· NATO’s annual two-week nuclear deterrence exercise Steadfast Noon will begin in the Netherlands.

· German Foreign Minister Johann Wadephul will meet Greek Foreign Minister Giorgos Gerapetritis in Athens, Greece.

Economic & Financial Reports/Events –

· Bank of England Member of the Monetary Committee Megan Greene delivers the keynote address at the SPE Annual Conference in London.

· Germany Wholesale Prices (September)/ Current Account (August)

· Romania Inflation Rate (September)

· Slovakia Construction Output (August)

· Turkey Current Account (August)/ Auto Production (September)/ Auto Sales (September)

· Serbia Inflation Rate (September)

· Russia Balance of Trade (August)/ Current Account Q3

Middle East

Political/Social Events –

· The Sharm El-Sheikh Summit for Peace will take place in Egypt. Multiple Middle Eastern leaders and President Trump will attend the ceremony and witness the signing of the agreement to end the war in Gaza.

· The remaining living Israeli hostages in Gaza will likely be released either today or tomorrow as part of the first phase of the Israel-Hamas ceasefire agreement.

· President Trump is expected to travel to Jerusalem, Israel, where he will address the Israeli Knesset.

· Israel celebrates Simchat Torah Eve. Financial markets are closed.

Economic & Financial Reports/Events –

· Oman Inflation Rate (September)

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Tuesday, October 14, 2025

Global

· The IMF publishes their World Economic Outlook report.

· The International Energy Agency monthly oil market report is published.

· The UN Security Council is scheduled to vote on a draft resolution on Haiti sanctions. In the morning, the Council will hold a briefing on the United Nations Support Mission in Libya (UNSMIL) followed by consultations.

· The Institute for International Finance Annual Membership meeting begins in Washington, D.C. and runs through October 17.

Americas

Political/Social Events –

· President Donald Trump is expected to welcome Argentina’s President Javier Milei to the White House. They are expected to discuss the US’s recent bailout of the Argentine economy and regional security issues.

· The 10% tariffs on softwood timber and lumber imports from Canada and elsewhere go into effect.

Economic & Financial Reports/Events –

· Federal Reserve Board Chair Jerome H. Powell gives a speech entitled “ Economic Outlook and Monetary Policy” at the National Association for Business Economics (NABE) Annual Meeting, Philadelphia, Pennsylvania.

· Bank of Canada Senior Deputy Governor Carolyn Rogers holds a fireside chat at the B.C. Business Summit in Vancouver.

· Federal Reserve Vice Chair for Supervision Michelle Bowman will speak at the 2025 Institute of International Finance (IIF) Annual Membership Meeting, Washington, D.C.

· Federal Reserve Board Governor Christopher J. Waller gives a speech on payments at the 2025 Institute of International Finance (IIF) Annual Membership Meeting, Washington, D.C.

· Boston Federal Reserve Bank President Susan Collins speaks and participates in a moderated question-and-answer session before the Greater Boston Chamber of Commerce.

· USA NFIB Business Optimism Index (September/Redbook (October/11)

· Canada Building Permits (August)

· Argentina Inflation Rate (September)

· EARNINGS: Aeon, BlackRock, BP, Citigroup, Goldman Sachs, JP Morgan, LVMH, Publicis Groupe, Wells Fargo

Asia

Political/Social Events –

· The U.S. and China are due to begin collecting port fees on each other's ships, in an escalating competition for the seas. Washington announced its docking charges earlier this year to challenge Chinese maritime dominance and revive American shipbuilding. On Friday, Beijing said it would respond in kind.

Economic & Financial Reports/Events –

· New Zealand Electronic Retail Card Spending (September)

· Singapore GDP Growth Rate Q3

· Australia NAB Business Confidence (September)/ RBA Meeting Minutes

· India WPI Food Index (September)/ WPI Fuel (September)/ WPI Inflation (September)/ WPI Manufacturing (September)

· China New Yuan Loans (September)/ M2 Money Supply (September)/ Outstanding Loan Growth (September)/ Total Social Financing SE

Europe

Political/Social Events –

· There will be a meeting of the EU Justice and Home Affairs Council (Home Affairs) in Luxembourg. Ministers will discuss civil protection and health preparedness, the Schengen Agreement, Migration and other issues.

· European Commission President Ursula von der Leyen travels to Bosnia and Herzegovina. She will meet with the Presidency of Bosnia and Herzegovina and meet with Chairwoman of the Council of Ministers Borjana Krišto; visits the Srebrenica Memorial Centre.

· Today is Defender of Ukraine Day.

Economic & Financial Reports/Events –

· European Central Bank Vice President Piero Cipollone gives remarks at the ECR Expert Policy conference "What Future for the Digital Euro?" organized by European Conservatives and Reformists (ECR) in Brussels, Belgium.

· European Central Bank Board Member Sharon Donnery participates on a panel discussion at the Bloomberg Global Regulatory Forum 2025 in New York.

· European Central Bank Board Member Pedro Machado gives a keynote speech at the Ethics and Compliance Conference organized by Banco de Portugal in Lisbon, Portugal.

· Bank of England Member of the Monetary Policy Committee Alan Taylor presents remarks and a fireside chat with FT columnist Gillian Tett at Kings College, Cambridge, on ‘diversion ahead’.

· Great Britain BRC Retail Sales Monitor (September)/ Unemployment Rate (August)/ Employment Change (August)/ Claimant Count Change (September)/ HMRC Payrolls Change (September)

· Ireland Construction PMI (September)

· Germany Inflation Rate (September)/ ZEW Economic Sentiment Index (October)/ ZEW Current Conditions (October)

· Hungary Construction Output (August)/ Industrial Production (August)

· Switzerland Producer & Import Prices (September)

· Euro Area ECB Cipollone Speech/ ZEW Economic Sentiment Index (October)/ ECB Donnery Speech

· France IEA Oil Market Report

· Romania Current Account (August)

· Poland Balance of Trade (August)/ Current Account (August)

Middle East

Political/Social Events –

· The EU-monitored Gaza-Egypt pedestrian border crossing reopens.

· Today is Yemen Liberation Day.

Economic & Financial Reports/Events –

· Israel M1 Money Supply (September)

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· South Africa Gold Production (August)/ Mining Production (August)

Wednesday, October 15, 2025

Global

· The IMF/World Bank Annual Meetings formally begin in Washington, D.C.

· G7 Finance Ministers are expected to meet in Washington to discuss increasing pressure on Russia.

Americas

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Federal Reserve Board Governor Stephen Miran participates in a conversation at the CNBC Invest in America Forum (virtual).

· Federal Reserve Board Governor Stephen Miran participates in a conversation at the Nomura Research Forum in Washington, D.C.

· Atlanta Federal Reserve Bank President Raphael Bostic participates in moderated conversation and Q&A on “Economic Mobility" before the United Way Regional Summit on Economic Mobility for Children and Youth.

· Federal Reserve Board Governor Christopher Waller speaks on artificial intelligence at the 2025 D Fintech Week.

· USA MBA 30-Year Mortgage Rate (October/10)/ MBA Mortgage Market Index (October/10)/ MBA Purchase Index (October/10)/ NY Empire State Manufacturing Index (October)/ NOPA Crush Report/ Fed Beige Book/ API Crude Oil Stock Change (October/10)

· Brazil Retail Sales (August)

· Canada Manufacturing Sales (August)/ Wholesale Sales (August)

· Colombia Consumer Confidence (September)/ Industrial Production (August)/ Retail Sales (August)

· Paraguay Consumer Confidence (September)

· Peru GDP Growth Rate (August)/ Unemployment Rate (September)

· EARNINGS: Abbot Laboratories, Bank of America, Morgan Stanley, PNC Financial Services Group., Progressive

Asia

Political/Social Events –

· The Japanese Diet will hold an extraordinary session to elect a new prime minister.

Economic & Financial Reports/Events –

· Reserve Bank of Australia Governor Michele Bullock takes part in a fireside chat at the Nomura Research Forum in Washington, D.C.

· Reserve Bank of Australia Assistant Governor Sarah Hunter speaks at a Citi conference in Sydney.

· Australia Westpac Leading Index (September)

· China Inflation Rate (September)/ PPI (September)

· Japan Capacity Utilization (August)/ Industrial Production (August)

· Indonesia Foreign Direct Investment Q3

· India Unemployment Rate (September)/ Imports/ Exports/ Balance of Trade (September)/ Passenger Vehicles Sales (September)

· Kazakhstan Industrial Production (September)/ GDP (September)

· Sri Lanka Manufacturing PMI (September)/ Services PMI (September)

Europe

Political/Social Events –

· The EU Foreign Affairs Council (Defense) meeting in Brussels. EU Defense Ministers will discuss the situation in Ukraine with NATO Secretary-General Mark Rutte chairing the session.

· Russian President Vladimir Putin hosts the Arab League Summit in Moscow.

· European Commission President Ursula von der Leyden travels to Serbia to meet with President Aleksandar Vučić and Prime Minister Đuro Macut. Later, she travels to Kosovo to meet with President Vjosa Osmani and caretaker Prime Minister Albin Kurti. Later in the day, she travels to North Macedonia: to meet with President Gordana Siljanovska-Davkova and Prime Minister Hristijan Mickoski and then meets President of the Assembly Afrim Gashi.

Economic & Financial Reports/Events –

· European Central Bank Vice President Luis de Guindos gives the opening address at the 10th Anniversary Conference of the Single Resolution Mechanism in Brussels, Belgium. Later, he gives remarks at the 25th anniversary of Alantra in Madrid, Spain.

· European Central Bank Board Member Claudia Buch participates on a panel discussion at 10th Anniversary Conference of the Single Resolution Mechanism in Brussels, Belgium.

· European Central Bank Board Member Sharon Donnery participates on a panel at the IIF Annual Membership meeting in Washington, D.C.

· Bank of England Deputy Governor, financial stability, Sarah Breeden is a panelist at the Fintech Foundation 2025 DC Fintech Week in Washington, D.C.

· Bank of England Deputy Governor for Markets and Banking David Ramsden speaks in a panel event at the Single Resolution Mechanism 10th Anniversary Conference in Brussels.

· Romania Industrial Production (August)

· France Inflation Rate (September)

· Slovakia Inflation Rate (September)

· Spain Inflation Rate (September)

· Euro Area Industrial Production (August)

· Poland Inflation Rate (September)

· Ireland Balance of Trade (August)/ Residential Property Prices (August)

· Serbia Building Permits (August)

· Ukraine Balance of Trade (August)

· Great Britain BoE Breeden Speech

· Turkey Budget Balance (September)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Israel Inflation Rate (September)/ Business Confidence (September)

· Saudi Arabia Inflation Rate (September)/ Wholesale Prices (September)

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· South Africa Retail Sales (August)/ SACCI Business Confidence (August)/ SACCI Business Confidence (September)

· Nigeria Food Inflation (September)/ Inflation Rate (September)

Thursday, October 16, 2025

Global

· IMF/World Bank Annual Meetings continue in Washington, D.C.

Americas

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Bank of Canada Governor Tiff Macklem speaks at the Peterson Institute for International Economics in Washington, D.C.

· Canada CFIB Business Barometer (October)/ Housing Starts (September)/ New Motor Vehicle Sales (August)

· Brazil IBC-BR Economic Activity (August)

· Richmond Federal Reserve Bank President Thomas Barkin speaks on "Staying Sanguine About the Horizon" before a virtual Aiken County Chamber of Commerce event.

· Federal Reserve Board Governor Christopher J. Waller gives a speech on the economic outlook at the C. Peter McColough Series on International Economics with Governor Christopher J. Waller, New York, New York.

· Federal Reserve Board Governor Michael S. Barr gives a speech at the 2025 DC Fintech Week, Washington, D.C.

· Federal Reserve Board Governor Stephen I. Miran speaks at the 2025 Institute of International Finance (IIF) Annual Membership Meeting, Washington, D.C.

· Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman speaks at the 2025 Federal Reserve Stress Testing Research Conference (virtual).

· Richmond Federal Reserve Bank President Thomas Barkin speaks on "Staying Sanguine About the Horizon" before the Richmond Association for Business Economics.

· Federal Reserve Board Governor Stephen I. Miran speaks at the Semafor Fall 2025 World Economy Summit, Washington, D.C.

· Richmond Federal Reserve Bank President Thomas Barkin speaks on "Staying Sanguine About the Horizon" before the Richmond Risk Management Association.

· Minneapolis Federal Reserve Bank President Neel Kashkari participates in a town hall hosted by Elevate Rapid City.

· USA Philadelphia Fed Manufacturing Index (October)/ Philly Fed CAPEX Index (October/NAHB Housing Market Index (October)/ EIA Natural Gas Stocks Change (October/10)/ EIA Crude Oil & Gasoline Stocks Change (October/10)/ 15- & 30-Year Mortgage Rate (October/16)/ Fed Balance Sheet (October/15)/ Initial Jobless Claims (September/27)/ Initial Jobless Claims (October/04)/ Initial Jobless Claims (October/11)/ Continuing Jobless Claims (September/20)/ Continuing Jobless Claims (September/27)/ Continuing Jobless Claims (October/04)/ Jobless Claims 4-week Average (September/27)/ Jobless Claims 4-week Average (October/04)/ Jobless Claims 4-week Average (October/11)/ PPI (September)/ Retail Sales (September)/ Business Inventories (August)

· EARNINGS: Charles Schwab, Bank of New York Mellon, ABB, CSX, Interactive Brokers, KeyCorp, M&T Bank, Marsh McLennan, Nordea Bank, Taiwan Semiconductor, Travelers, United Airlines, US Bancorp

Asia

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Bank of Japan Member of the Policy Board Naoki Tamura gives a speech to local leaders in Okinawa.

· Australia Employment Change (September)/ Unemployment Rate (September)/ Participation Rate (September)

· New Zealand Food Inflation (September)

· Japan Machinery Orders (August)/BoJ JGB Purchase/ Tertiary Industry Index (August)

· Indonesia Loan Growth (September)

· Philippines Cash Remittances (August)

Europe

Political/Social Events –

· The EU Employment, Social Policy, Health, and Consumer Affairs Council (Employment and Social Policy) will meet in Luxembourg.

· The European Commission will unveil its "Roadmap for Defence Readiness."

· The 2025 Arctic Circle Assembly will meet in Iceland. It is expected that more than 2,000 people representing more than 60 countries will attend.

Economic & Financial Reports/Events –

· European Central Bank President Christine Lagarde participates in an IMF's Debate on the Global Economy: Shaping Economic Policies in the Face of Disruptive Change in Washington D.C., USA

· European Central Bank Board Member Pedro Machado gives a keynote speech at the SSM Conference on Digitalization in Frankfurt, Germany.

· European Central Bank Board Member Sharon Donnery participates in a roundtable discussion "Central Banking and Supervision in a Geopolitically Fragmented World: Risks, Responses, and Cooperation" organized by Toronto Centre in Washington D.C.

· European Central Bank Board Member Philip R. Lane participates on a panel panel "Monetary Crosscurrents: Rethinking Frameworks Amid Trade and Policy Fragmentation" at 2025 IIF Annual Membership Meeting "Growth and Innovation in an Uncertain World" in Washington D.C.,

· Great Britain Goods Trade Balance (August)/ Balance of Trade (August)/ Construction Output (August)/ GDP (August)/ Industrial Production (August)/ Manufacturing Production (August)/ NIESR Monthly GDP Tracker (September)

· Switzerland SECO Economic Forecasts

· Italy Inflation Rate (September)/ Balance of Trade (August)

· Euro Area Balance of Trade (August)/ ECB Donnery Speech/ ECB Lane Speech/ ECB President Lagarde Speech

· Turkey Foreign Exchange Reserves (October/10)

· Poland Core Inflation Rate (September)

· Belarus Industrial Production (September)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Israel GDP Growth Annualized 3rd Est Q2

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· South Africa Building Permits (August)

· Angola Foreign Exchange Reserves (September)/ M3 Money Supply (September)

· Ghana PPI (September)

Friday, October 17, 2025

Global

· IMF/World Bank Annual Meetings continue in Washington, D.C.

Americas

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Canada Foreign Securities Purchases (August)

· St. Louis Federal Reserve Bank President Alberto Musalem discusses the U.S. economy and monetary policy before the Institute for International Finance Annual Membership Meeting.

· USA Capacity Utilization (September)/ Industrial Production (September)/ Manufacturing Production (September)/ Baker Hughes Total Rigs Count (October/17)/ Net Long-term TIC Flows (August)/ Foreign Bond Investment (August)/ Overall Net Capital Flows (August)/ Housing Starts (September)/ Building Permits (September)/ Export Prices (September)/ Import Prices (September)

· EARNINGS: American Express, Fifth Third Bancorp, Huntington Bancshares, Truist Financial, State Street

Asia

Political/Social Events –

· The KMT, Taiwan's biggest opposition party, chooses a new leader as it seeks a path back to power. The KMT has lost three straight presidential elections to the Democratic Progressive Party, most recently in January 2024. But it enjoys a legislative majority with its smaller partner, the Taiwan People's Party, and it has momentum after vanquishing efforts to recall some of its lawmakers this summer. The winner will be in a position to influence how Taiwan handles cross-strait tensions with China and tricky ties with the U.S..

Economic & Financial Reports/Events –

· South Korea Export Prices (September)/ Import Prices (September)/ Unemployment Rate (September)

· Japan Foreign Bond Investment (October/11)/ Stock Investment by Foreigners (October/11)/ BoJ Uchida Speech

· Singapore Non-Oil Exports (September)/ Balance of Trade (September)

· Malaysia Imports/ Exports/ Balance of Trade (September)/ GDP Growth Rate Q3

· India Bank Loan Growth (October/03)/ Deposit Growth (October/03)/ Foreign Exchange Reserves (October/10)

Europe

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· European Central Bank Board Member Sharon Donnery gives remarks and takes questions at the Institute of International Finance (IIF) "Addressing Regulatory Fragmentation" roundtable discussion in Washington D.C.

· Bank of England chief economist Huw Pill speaks at the Institute of Chartered Accountants in England and Wales Annual Conference.

· Hungary Gross Wage (August)

· Slovakia Inflation Rate (September)

· Euro Area CPI Final (September)/ Inflation Rate (September)/ ECB Donnery Speech

· Great Britain BoE Pill Speech

· Serbia Current Account (August)

· Belarus GDP (September)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Angola Wholesale Prices (September)

· Ethiopia Inflation Rate (September)

Saturday, October 18, 2025

Global

· The World Bank/IMF Meetings continue in Washington, D.C.

· UN Security Council Resolution 2231 will expire today, unless extended. The Security Council unanimously adopted the resolution endorsing the Joint Comprehensive Plan of Action, or the Iran nuclear deal, in 2015.

Americas

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Bolivia Presidential Election (2nd Round)

Asia

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Europe

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· European Central Bank President Christine Lagarde participates on a panel discussion at Group of Thirty opening panel "Global Economic Outlook" in Washington D.C.

· European Central Bank Vice President Piero Cipollon participates on a panel discussion at Euro50Group meeting in Washington D.C.

The Global Week Ahead

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