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India's central bank keeps rates steady at 5.5% as Trump ratchets up tariff threats
India’s central bank kept its policy rate steady at 5.5% Wednesday in the face of rising tariff threats from U.S. President Donald Trump. The move was in line with expectations from economists polled by Reuters, and comes after the Reserve Bank of India delivered an outsized cut of 50 basis points at its last meeting in June. RBI Governor Sanjay Malhotra, in his monetary policy statement, said the decision was unanimous. He noted that while global trade challenges lingered, geopolitical uncertainties have “somewhat abated.” The Nifty 50 index fell 0.18% after the decision, while the Sensex dipped marginally. ... (full story)
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*TRUMP SIGNS EXECUTIVE ORDER IMPOSING ADDITIONAL 25% TARIFF ON INDIA *WHITE HOUSE: TARIFF ON INDIA OVER CONTINUED RUSSIAN OIL PURCHASES 
Addressing Threats to the United States by the Government of the Russian Federation By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, I hereby determine and order: Section 1. Background. Executive Order 14066 of March 8, 2022 (Prohibiting Certain Imports and New Investments With Respect to Continued Russian Federation Efforts To Undermine the Sovereignty and Territorial Integrity of Ukraine), expanded the scope of the national emergency declared in Executive Order 14024 of April 15, 2021 (Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation), to include the actions taken against Ukraine by the Government of the Russian Federation. To address that unusual and extraordinary threat to the national security and foreign policy of the United States, Executive Order 14066 prohibited, among other things, the importation into the United States of certain products of Russian Federation origin, including crude oil; petroleum; and petroleum fuels, oils, and products of their distillation. I have received additional infor *TRUMP ORDER DIRECTS IDENTIFICATION OF COUNTRIES IMPORTING RUSSIAN OIL WHITE HOUSE: IF FOREIGN RETALIATION OCCURS, PRESIDENT TRUMP MAY AMEND ORDER TO ENSURE ITS EFFECTIVENESS
Addressing Threats to the United States by the Government of the Russian Federation By the authority vested in me as President by the Constitution and the laws of the United States of America, including the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA), the National Emergencies Act (50 U.S.C. 1601 et seq.), section 604 of the Trade Act of 1974, as amended (19 U.S.C. 2483), and section 301 of title 3, United States Code, I hereby determine and order: Section 1. Background. Executive Order 14066 of March 8, 2022 (Prohibiting Certain Imports and New Investments With Respect to Continued Russian Federation Efforts To Undermine the Sovereignty and Territorial Integrity of Ukraine), expanded the scope of the national emergency declared in Executive Order 14024 of April 15, 2021 (Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation), to include the actions taken against Ukraine by the Government of the Russian Federation. To address that unusual and extraordinary threat to the national security and foreign policy of the United States, Executive Order 14066 prohibited, among other things, the importation into the United States of certain products of Russian Federation origin, including crude oil; petroleum; and petroleum fuels, oils, and products of their distillation. I have received additional infor *TRUMP ORDER DIRECTS IDENTIFICATION OF COUNTRIES IMPORTING RUSSIAN OIL WHITE HOUSE: IF FOREIGN RETALIATION OCCURS, PRESIDENT TRUMP MAY AMEND ORDER TO ENSURE ITS EFFECTIVENESS
A Boston Fed-hosted panel featuring Federal Reserve Board Governor Lisa D. Cook, Federal Reserve Bank of Boston President & CEO Susan M. Collins, and Central Bank of Chile Board Member Luis Felipe Céspedes explores challenges related to uncertainty for the global economy, the role of AI in monetary policy decisions, and interest rates, among other topics.
The White House announced Wednesday that it is imposing an additional 25% tariff on India, bringing the total levies against the major United States trading partner to 50%. “I find that the Government of India is currently directly or indirectly importing Russian Federation oil,” President Donald Trump said in an executive order. “Accordingly, and as ...
