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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Mexico's headline inflation eased to 4.55% in November, slightly below the 4.6% forecast by economists and down from 4.76% in October. This slowdown increases the likelihood of a fourth consecutive interest rate cut at the central bank's upcoming meeting, with monthly inflation recorded at 0.44%.
Revenue Secretary Sanjay Malhotra has been appointed as the new RBI Governor for a three-year term, effective December 11, succeeding Shaktikanta Das. A 1990-batch IAS officer from the Rajasthan cadre and an IIT-Kanpur alumnus, Malhotra has played a key role in enhancing tax collections and will oversee tax-related proposals for the upcoming budget.
India has appointed Sanjay Malhotra, a seasoned bureaucrat and current revenue secretary at the Ministry of Finance, as the new governor of the Reserve Bank of India. He will assume his role for a three-year term starting December 11, concluding weeks of speculation regarding the leadership of the central bank in the rapidly growing economy.
The central government is expected to reduce funding for the UDAN scheme in the FY26 budget due to persistently low passenger traffic. Many domestic airlines have limited ticket sales on routes operational for over three years, with some flights being discontinued, prompting a reevaluation of the scheme's financial viability. Increased competition from high-speed railways and rising fuel costs have further pressured airlines to withdraw from unprofitable routes.
The Reserve Bank of India (RBI) has introduced the secured overnight rupee rate (SORR) to establish a benchmark for secured money markets. This new benchmark will be derived from transactions in the market repo and tri-party repo (TREP) segments, following recommendations and feedback regarding the Mumbai Interbank Offer Rate (MIBOR).
South African Reserve Bank Governor Lesetja Kganyago emphasized the need for caution in adjusting interest rates to avoid future regrets amid uncertainty. In a CNBC Africa interview, he stated that the recent policy adjustments were deemed appropriate, highlighting the importance of not contributing to existing data noise.
Citigroup Inc. advises investors to bet against the market's expectations of rapid interest-rate cuts by the European Central Bank (ECB) next year. Currently, money markets anticipate cuts at every meeting until June, followed by one more in the latter half of 2025. Analyst Jamie Searle believes this positioning is overly aggressive, especially in light of potential trade tariffs from US President-elect Donald Trump.
Bitcoin experienced volatility, closing above $100,000 for the first time before dipping below $99,000. As Microsoft considers adding Bitcoin to its balance sheet, China plans fiscal easing in 2025, potentially boosting liquidity in crypto markets. Analysts warn of a choppy market ahead, with significant resistance levels at $110,000 and $120,000.
Iran is set to regulate cryptocurrency to mitigate the effects of sanctions, as announced by Minister of Economic Affairs Abdolnaser Hemmati. The Central Bank's guidelines will focus on tax compliance and anti-money laundering, aiming to harness the potential of digital currencies to bolster the economy and youth employment.This initiative comes as Donald Trump prepares to return to office, potentially reinstating stringent sanctions that could impact global oil markets. Currently, Iranian investors hold $30-50 billion in crypto assets, highlighting the significance of this regulatory shift amidst geopolitical tensions.
Portugal’s Finance Minister Joaquim Miranda Sarmento expressed confidence that France will resolve its current political crisis, stating it poses no threat to Europe. In an interview, he emphasized that he believes a political solution will bring stability to the country.
Central Bank Actions
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mexico inflation slows boosting prospects for interest rate cut
13:11 09.12.2024
Sanjay Malhotra appointed as new RBI Governor for three years
12:55 09.12.2024
India appoints Sanjay Malhotra as new central bank governor
12:55 09.12.2024
government plans budget cuts for udan scheme amid declining passenger traffic
12:18 09.12.2024
introduction of secured overnight rupee rate by reserve bank of india
12:01 09.12.2024
south africa central bank cautious on interest rate adjustments to avoid regrets
11:57 09.12.2024
citi advises against market expectations for rapid european central bank rate cuts
11:34 09.12.2024
Microsoft considers Bitcoin treasury as market faces choppy conditions
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11:25 09.12.2024
Iran to regulate cryptocurrency to counter sanctions amid Trump's return
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11:06 09.12.2024
Portugal's finance minister expresses confidence in France's political stability
11:01 09.12.2024
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