The global economy is constantly evolving, and this weekend saw several significant updates. In a surprising move, the Pentagon blocked Ukraine’s long-range missile strikes on Russia, according to the Wall Street Journal. This development comes as tensions between the two nations continue to escalate. Meanwhile, the Federal Reserve’s Mohamed El-Erian suggests that more data is needed to determine whether a September rate cut is warranted, as reported by Reuters.

In other news, the US debt-to-GDP ratio of 250% may not lead to higher interest rates, according to a paper presented at the Jackson Hole central banking conference, as reported by Bloomberg. Canada is optimistic about reaching a trade deal with the US, despite ongoing tensions between the two nations, reports Bloomberg.

In Europe, Bank of England Governor Mark Carney has been pushing for energy and defense deals during his visit to the continent, signaling a pivot away from the US, according to Bloomberg. European Central Bank President Christine Lagarde notes that the labor market has weathered recent shocks well, while Kazakhstan’s central bank governor says the ECB can keep an eye on the economy even if rates are in a good place, as reported by Bloomberg.

ECB ‘insurance cut’ is not needed with inflation at 2%, according to Joerg Rehn, as reported by Bloomberg. European Union Trade Commissioner Phil Hogan defends the EU’s trade deal as “strong, if not perfect,” while German Finance Minister Olaf Scholz pledges reforms to reverse economic slump, reports Bloomberg.

South Korea and Japan have agreed to boost ties amid mounting challenges, while Australia plans to speed up housing construction to address a lingering crisis, as reported by Bloomberg. US and India trade talks are moving forward, according to the Bloomberg report.

In other news, President Trump plans to make Cold War-era plutonium available for nuclear power, as reported by Reuters. Air Canada’s labor deal faces fierce opposition over wages, with a vote potentially failing, as reported by Reuters. Ukraine’s President Volodymyr Zelenskiy says security guarantees for the nation will be ready soon, while Bank of England Governor Mark Carney tells Ukraine that Canada will be there to enforce any peace deal, as reported by Bloomberg.

Israel has struck Houthi military sites in retaliatory attacks, while Iran’s Supreme Leader rules out direct talks with the US, according to the Financial Times. These updates demonstrate the complex and ever-changing nature of global economic dynamics.