• Australia seeks fuel security in Singapore as Hormuz disruption hits supply
• Japan wholesale inflation jumps as BOJ flags stagflation risk from oil shock
• Japan to release more oil reserves, shift supply away from Hormuz routes
• China inflation turns but signals “bad inflation” as energy costs rise and demand lags
• BoJ flags stagflation risk if Middle East shock deepens, but says Japan not there yet.
• Japan finmin Katayama: govt ready to take decisive action but won’t elaborate
• China March 2026 CPI 1.0% y/y (expected 1.2%) PPI 0.5% y/y (expected 0.4%)
• PBOC sets USD/ CNY reference rate for today at 6.8654 (vs. estimate at 6.8313)
• Bank of Korea holds policy rate at 2.5%, as expected.
• Powell, Bessent flag systemic risk from advanced AI models
• ADB warns Asia growth to slow sharply if Middle East disruptions persist
• Japan’s Katayama signals no urgency on oil risks, backs G7 stance on conflict
• Japan data, March PPI 2.6% y/y (expected 2.4%, prior 2%)
• Massive Dos Bocas fire adds refining risk. Mexico’s flagship refinery stays below capacity
• Zandi warns payrolls mislead, VCI signals rising US recession risk (what’s VCI, you ask?)
• NZ PMI stays in expansion but confidence drops sharply as global risks build.
• Warsh Fed hearing delayed by paperwork holdup (Powell set to stay longer?)
• White House warns staff not to bet on Iran war, raises (lack of) ethics concerns
• Trump touts oil flow recovery, but Hormuz chaos tells another story
• Trump warns Iran over Hormuz transit fees as shipping tensions escalate
• IMF warns Iran war fuels inflation surge and global growth slowdown
• investingLive Americas market news wrap: Steps toward ceasefire in Lebanon lift the mood

Summary:

• Iran denies Islamabad talks, pushing back on WSJ report and linking talks to Lebanon ceasefire
• Japan’s Katayama escalates FX rhetoric, flags readiness for intervention
• Fed leadership timeline slips as Warsh hearing delayed → policy continuity
• BoJ flags stagflation risk if Middle East shock persists
• South Korea holds rates amid inflation-growth trade-off
• China data confirms “bad inflation” dynamic (PPI up, CPI soft)
• Markets steady: Asia equities firmer, USD slightly stronger, oil rangebound

Iranian state media denied that a delegation had arrived in Islamabad for weekend talks with the U.S., pushing back on earlier reporting and reiterating that Tehran has no plans to engage until a ceasefire is established in Lebanon. The denial reinforces the theme of conflicting signals around diplomacy, keeping uncertainty elevated despite the broader ceasefire backdrop.

In Japan, Finance Minister Katayama stepped up verbal intervention, warning authorities are prepared to act “on all fronts” against market moves, citing heightened speculative activity across crude oil and FX. The rhetoric signals growing discomfort with currency volatility, though no concrete measures were outlined.

On the Fed front, the Senate Banking Committee dropped plans for a hearing on nominee Kevin Warsh next week due to missing paperwork, effectively delaying the confirmation timeline. The development points to continued leadership continuity for now, removing a near-term policy uncertainty.

Central bank messaging across Asia continues to reflect the same core dilemma. Bank of Japan Deputy Governor Himino said Japan is not currently in stagflation but warned that a prolonged Middle East conflict could push up inflation while weighing on growth. Similarly, South Korea’s central bank held rates steady, maintaining a cautious stance as policymakers balance rising price pressures against downside risks to activity.

China’s latest data reinforced the emerging inflation narrative. Producer prices returned to growth (+0.5% y/y), ending a multi-year deflation streak, while consumer inflation undershot expectations (+1.0% y/y), highlighting the divergence between rising input costs and weak domestic demand.

Markets were relatively steady. Asia-Pacific equities were mostly firmer, extending gains seen on Wall Street following ceasefire optimism, despite sporadic flare-ups. The US dollar edged higher, while major pairs were broadly stable. Oil traded in a tight range and gold was little changed, suggesting markets remain in a holding pattern as geopolitical uncertainty persists.