Bank of Japan officials are leaning against a second consecutive rate hike at the October 30 meeting after September’s rise to 1.25%, preferring to watch the data for a possible December move — though the final decision could still change.

The People’s Bank of China has approved Visa’s application to prepare a domestic bank-card clearing business. Visa has one year to complete preparations before applying for the full licence, joining American Express and Mastercard in China’s clearing market.

The IMF raised its 2026 global growth forecast to 3.1%, crediting the AI investment boom with offsetting higher oil prices from the Middle East war — while warning that an AI market correction, the conflict and rising debt all threaten the outlook.

JPMorgan Chase CEO Jamie Dimon says AI will eliminate jobs and should be phased in gradually — with retraining, relocation and income support — warning that abrupt displacement, such as replacing two million truck drivers at once, risks civil unrest.

A lukewarm August recovery was not enough to offset Argentina’s steep July contraction, leaving the economy on course for a technical recession. JPMorgan has cut its 2026 growth forecast to 1.5% and the World Bank to 2.1%.

South Korea’s exports rose 102% year on year to a record $26.1 billion in the first 10 days of October, Korea Customs Service data show, as semiconductor shipments surged about 171% and accounted for 46.7% of all exports.