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Asian markets saw a broad uptick on Monday, with Japan's Nikkei 225 leading the gains, as investors looked forward to earnings reports from major global companies and a crucial US inflation report. Wall Street also closed the previous week on a positive note, with the S&P 500 and the Dow Jones Industrial Average posting gains, fueled by a surprisingly strong US jobs report.

Sir Dave Ramsden, the Bank of England’s deputy governor, anticipates inflation to reach a stable 2% by 2024, potentially hinting at upcoming interest rate cuts. His comments reflect a divergence from previous forecasts and a shift in the inflation outlook, influenced by easing inflationary pressures in the labor market.

The UK government's borrowing exceeded expectations by £6.6 billion, raising concerns about Chancellor Hunt's ability to implement tax cuts before the anticipated general election. Despite the pressure on public finances, Chancellor Hunt reportedly aims to reduce national insurance, while economists caution against unsustainable fiscal policies.

Bank of Japan Governor Kazuo Ueda discusses the need for greater certainty in achieving the inflation rate target of 2 percent before considering a decision on raising interest rates. He highlights the recent wage hikes and their potential impact on consumer prices as well as the factors influencing the central bank's monetary policy decisions.

India's business activity experienced its fastest growth in almost 14 years this month due to strong demand, leading to robust job growth and easing input inflation. The country's strong performance across manufacturing and service sectors points towards sustained economic growth, positioning India as the fastest-growing major economy in 2022.