The Monetary Policy Committee today agreed to maintain the Official Cash Rate at 5.50%. Interest rates are restricting spending in the economy and consumer price inflation is declining, as is necessary to meet the Committee's Remit. However, inflation remains too high, and the Committee remains wary of ongoing inflationary pressures.
India s Finance Ministry has said a recession may appear in 2024 due to uncertainties related to higher food and energy prices and geopolitical tensions. India s trade deficit reached a record high in October due to higher-value imports and lower exports. Rural demand has sustained momentum in Q2, driven by stable foodgrain production incomes and moderate inflation.
Peng Lifa disappeared into the clutches of Chinese security forces in Beijing after he unfurled banners off a bridge with slogans attacking the autocracy of President Xi Jinping. But his daring act—and his manifesto calling for mass action to achieve democracy—have stirred hope for change and a discussion of strategy among Chinese on the mainland and around the world.
“Xiang Qing often joked that he might have 120 years of life, which he ultimately did not. But I know that he would not mind: he joyfully lived a simple and virtuous life, without any care for his own self-interest.”
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