Economy

• The Welsh First Minister has formally requested a broader devolution settlement from the UK government.

• The planned G7 release of emergency reserves is intended to addSupplyand ease refined-product pressure.

• Energy-importing economies can face a double hit from high oil prices and weaker currencies.

• The Welsh government argues that Wales should have access to constitutional and fiscal tools comparable with Scotland in key areas.

A smaller deficit can reduce vulnerability to shifts in international investor sentiment, although the UK continues to depend on substantial cross-borderCapitalflows. The composition of those flows matters: stable long-term investment is generally less sensitive to market shocks than short-term financing.

• Euro-areaInflationaccelerated to 3.8% in September, keeping price stability at the center of the ECB debate.

• Weather disruptions can tighten cropSupplyeven when global inventories appear adequate.