Ukraine’s chief negotiator said participants in the Geneva talks consulted with Volodymyr Zelensky about the course of discussions and that the main focus of these negotiations has been on the issue of Ukraine’s post war reconstruction. He stressed that under current conditions the priority for all sides is to make upcoming trilateral meetings as productive as possible so that final frameworks in the security and economic fields can be defined and stabilized.

The third round of Iran US negotiations was held in Oman. According to reports, the Americans entered with strict conditions and the Islamic Republic’s proposal is inconsistent with US demands. Reports say that today Oman’s foreign minister will meet with Vance in Washington. J.D. Vance said in an interview with The Washington Post that the United States will not enter a long term war with Iran. Meanwhile, the idea of a Trump strike on Iran without congressional authorization has been raised and has faced criticism from Democrats. Oil, which had risen last night on disappointment over the talks, fell again after a tweet by Oman’s foreign minister signaled progress in negotiations.

Tokyo inflation fell to 1.8 percent in February, the lowest level in more than a year, largely due to energy subsidies from the government of Sanae Takaichi. Despite this decline, core inflation excluding energy rose to 2.5 percent and remained above the 2 percent target, indicating that underlying price pressures persist. This situation has complicated policy communication for the Bank of Japan because signs of cooling inflation are appearing alongside continued underlying momentum. Markets still raise the possibility of rate hikes in the coming months, although the central bank is likely to act cautiously while assessing policy effects.

UK consumer confidence, according to GfK, fell in February for the first time in three months to minus 19. Rising concerns about unemployment and cost of living pressures have made households less willing to make major purchases. Data show job insecurity, especially among young people, is increasing rapidly and nearly 1 million individuals aged 16 to 24 are out of work and education. Central bank policymakers, including Catherine Mann, are monitoring these developments when considering the timing of potential interest rate cuts.