December 2, 2025
United States:
World Economy Surprisingly Resilient to Tariffs, OECD Says
The global economy is weathering Donald Trump’s trade tariffs better than expected as activity gets a boost from strong investment in artificial intelligence and supportive fiscal and monetary policies, the OECD said.
The Paris-based organization raised its US and euro-area growth forecasts for this year and next and made small upward adjustments for other major economies in its latest outlook. Still, it continues to predict global growth will slow to 2.9% in 2026 from 3.2% in 2025 as the full effects of levies on trade have yet to be felt.
Europe:
Euro-Zone Inflation Edges Higher, Backing Steady ECB Rates
Euro-area inflation inched up, supporting the European Central Bank’s view that there’s little reason to lower borrowing costs further.
Consumer prices rose 2.2% from a year ago in November, up from 2.1% in the previous month and just ahead of the median estimate in a Bloomberg poll of economists. Core inflation, which strips out volatile food and energy costs, was unchanged at 2.4%, while closely watched services edged higher.
Asia:
Japanese Bonds Gain as Solid 10-Year Sale Demand Brings Relief
Japanese sovereign bonds rebounded after Tuesday’s 10-year auction drew solid demand, bringing temporary relief following a steep selloff triggered by Bank of Japan Governor Kazuo Ueda’s unexpectedly hawkish turn.
Yield on benchmark 10-year bonds fell two basis points to 1.855%, and those on other tenors also dropped. The bid-to-cover ratio at the auction was 3.59, higher than the previous offering in November, as elevated yields lured buyers despite rising expectations for a near-term BOJ rate hike.
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