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The Financial Stability Board (FSB) sent a letter to G20 finance ministers and central bank governors warning that cross-border stablecoin oversight and crisis management remain immature, and flagging AI-driven cyber threats to critical financial institutions. In its 2025 review, 11 of 28 surveyed jurisdictions had finalized stablecoin regulatory frameworks. The accompanying report warns that stablecoin runs could spill into traditional markets through forced sales of reserve assets and bank deposit withdrawals, with multi-issuer stablecoins particularly exposed when reserves sit in different jurisdictions. The FSB has also finalized 12 practices for responsible AI adoption covering governance, development, cybersecurity and third-party risks, and urged G20 members to support them. FSB Chair Andrew Bailey said AI requires close attention and careful management by financial institutions.
- Inflation alarms ring anew with the U . S . midterms 19 days away
U.S. producer prices rose in September by the most in nearly four years, driven by surging fuel and fresh vegetable costs, raising questions about interest rates before a Federal Reserve meeting and the November 3 midterm elections. The Producer Price Index gained 6.3% over the 12 months to September, the largest rise since December 2022, while final demand prices climbed 2.6%, the biggest since December 2009, and gasoline rose 64% year on year. Diesel more than doubled from a year earlier, averaging $6.53 a gallon at its Sept. 22 peak, which is pushing up transport costs for food and goods. Fresh vegetable prices jumped 41% month on month, though fresh eggs fell more than 30%; a Fox News poll found just 22% approve of Trump's handling of inflation. Former Philadelphia Fed president Patrick Harker said he expects a rate increase this month, with another possible in December if conditions don't improve.
- RBI may need to raise repo rate to 6 . 25 % as inflation risks persist : SBI Mutual Fund
SBI Funds Management says the Reserve Bank of India (RBI) may need to raise its repo rate to at least 6.25% to contain inflation risks, after the RBI lifted it by 25 basis points to 5.50% earlier this month. That level would imply another 75 basis points of increases, though the report gives no timeline. Retail inflation rose to 5.54% in September from 4.83% in August, while wholesale inflation climbed to 11.39% from 9.92%. The fund house says headline CPI remains about 120 basis points above the 4% target, and warns that high crude prices, possible food inflation and strong domestic demand could push inflation above the RBI's 6% upper tolerance limit for two consecutive quarters. It also notes that surplus banking liquidity could weaken the effect of rate hikes, and that rate cuts are off the table.
- RBI may need to raise repo rate to 6 . 25 % as inflation risks persist : SBI Mutual Fund
In its October 2026 Market Outlook, SBI Funds Management says the RBI may need to lift its repo rate to at least 6.25% to contain inflation risks, after raising it by 25 basis points to 5.50% earlier this month. That implies another 75 basis points of hikes with no timeline given, and the fund sees the near-term path as either a hike or a hold, with rate cuts off the table. Retail inflation rose to 5.54% in September from 4.83% in August and wholesale inflation to 11.39% from 9.92%, while the FY27 CPI forecast of 5.20% sits about 120 basis points above the 4% target. The RBI projects inflation at 6% in the third quarter and 5.7% in the fourth quarter of FY27, and the fund warns that elevated crude prices, food inflation and strong domestic demand could push it above the 6% upper tolerance limit for two consecutive quarters. It also cautions that surplus banking liquidity could weaken the effect of rate hikes, and the RBI's next Monetary Policy Committee meeting is scheduled for December 2-4.
- CIBC warns of inflation risks as 'leaky loonie' faces further slide
CIBC Capital Markets economist Avery Shenfeld warns that Canada's weaker currency could complicate the Bank of Canada's rate outlook if the U.S. dollar strengthens further amid trade tensions. The loonie has lost about 5% against the Bank of Canada's trade-weighted basket since early summer 2025, and historical models suggest this could add around 0.3 percentage points to inflation at peak impact. CIBC expects annual inflation to rise to 3.2% in September from 3.0% in August, mainly on higher gasoline prices, while core measures should stay closer to 2%, supporting an unchanged rate. A threatened 50% U.S. tariff on Canadian autos and parts from January 1 could add pressure, and if oil prices fall, the central bank might consider cutting rates next year. CIBC notes a weaker loonie offers exporters only limited relief, since many rely on inputs priced in U.S. dollars.
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Chip stocks rebounded on Monday as investors bought the dip after last week's steep AI trade sell-off. The PHLX Semiconductor Index (^SOX) rose 2%, reversing a recent semiconductor rout. Intel (INTC) jumped 5% after JPMorgan upgraded the stock to Buy, citing "solid execution." Nvidia (NVDA) and AMD (AMD) also gained, while a Goldman Sachs upgrade of CoreWeave (CRWV) to Buy from Neutral helped lift AI sentiment. Arm Holdings (ARM), Micron Technology (MU) and SK Hynix (SKHY) also rebounded after sharp declines last week.
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Stocks were mostly higher on Monday as investors turned their focus to earnings season, with semiconductor stocks rebounding after last week's sharp sell-off. The Tech sector (XLK) rose, led by Nvidia (NVDA), AMD (AMD), Micron (MU) and SK Hynix (SKHY). Intel (INTC) also jumped after JPMorgan analysts upgraded the stock, while CoreWeave (CRWV), hammered last week, rebounded on a Goldman Sachs upgrade. Investors are watching this week's reports from Netflix (NFLX), SpaceX (SPCX), Tesla (TSLA) and Meta (META). The 10-year Treasury (^TNX) yield hovered near 5.1%, while Brent crude (BZ=F) dropped to $108 per barrel and WTI (CL=F) hovered below $98.
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