U.S. central bankers lopped half of a percentage point from their interest rate target in September. Federal Reserve Chair Jerome Powell said the bigger-than-expected reduction was a sign of confidence that inflation is headed back to the 2% target and should not be seen as any indication of the pace of cuts going forward. Here … Read more
Global rating agency S&P said the impact of the new coronavirus variant on India’s economic outlook would be contained. It expects India’s economy to grow 9.5% in FY22 and 7.8% in FY23. “We are seeing a healthy recovery,” Andrew Wood, director, sovereign ratings, S&P said in a virtual conference on Tuesday. He said it was … Read more
Organization for Economic Co-operation and Development (OECD) interim economic outlook has pegged India’s gross domestic product (GDP) growth to rebound to 12.6% in FY22, which will be the fastest in the world, followed by China at 7.8% growth. India’s GDP is expected to grow at 5.4% in the following financial year, owing to faster rebound … Read more
British Prime Minister Boris Johnson and members of his government risk significant political damage for their decision on Saturday to introduce extremely tough restrictions on London and parts of the southeast England and withdraw a significant part of the social accommodations they had announced for Christmas gatherings. Yet as Johnson said in a widely watched … Read more