Fed keeps key rates unchanged at 5.25-5.50%
The US Federal Reserve, on Wednesday, announced its decision to keep the benchmark interest rates steady at 5.25 – 5.50 per cent, aligning with market predictions. This marks the fifth consecutive meeting without a change in rates. In its initial policy-setting meeting of the year, the rate-setting panel unanimously agreed to maintain the policy rate at its highest in 23 years. The panel indicated that it is unlikely to lower the target range until there is more confidence that inflation is steadily returning to the two per cent target. Since March 2022, the Federal Reserve has increased the policy rate by a total of 5.25 percentage points, representing one of the most rapid responses to increasing inflation in recent history. However, the central bank has held the rate steady since July, as inflation shows signs of nearing its target.
Facebook, Instagram users reporting problems, according to Downdetector.
All agency banks to remain open for public on Sunday, March 31, 2024.
Unidentified gunmen opened fire at Pakistan’s Gwadar port authority complex in its restive Balochistan province, Geo News reported on Wednesday. Two attackers were killed in retaliatory firing by security personnel, the TV channel said, adding that a blast preceded the firing. Gwadar’s deputy commissioner and police did not immediately respond to requests for comment. Gwadar is located near the Strait of Hormuz, a crucial oil shipping route in the Arabian Sea.
The Delhi High Court on Wednesday dismissed a public interest litigation (PIL) seeking directions to Ministry of Home Affairs (MHA) and Election Commission of India (ECI) to register a complaint and investigate and prosecute the political leaders Rahul Gandhi, Arvind Kejriwal and Akhilesh Yadav for allegedly making misleading and false statements which were made with the intent to damage the image and credibility of Republic of India. While dismissing the plea, the bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora said,”Don’t underestimate the wisdom of the voter”.
Hours after Union Minister Shobha Karandlaje’s claim that the suspect involved in the March 1 blast at The Rameshwaram Cafe was from Tamil Nadu, the Bharatiya Janata Party (BJP) leader apologized for her comments. “To my Tamil brothers & sisters, I wish to clarify that my words were meant to shine light, not cast shadows, she wrote on X. “To anyone from Tamil Nadu effected, From the depths of my heart, I ask your forgiveness. Furthermore, I retract my previous comments,” Karandlaje said in the post.
At a startup conclave, Prime Minister Narendra Modi stated on Wednesday that India preparing roadmap for a developed country, adding the country’s startup ecosystem is not limited to metro cities and has now become a social culture.
The nomination process for first phase of the Lok Sabha polls will begin today in 102 seats across 21 states and UTs with issuance of notification. According to the Election Commission of India (ECI), the polling for the general elections will take place in seven phases between April 19 and June 1. Phase I will see voting take place in 102 constituencies in 21 states and Union territories (UT). The counting of votes for all polls will done on June 4.
Delhi Chief Minister and Aam Aadmi Party (AAP) chief Arvind Kejriwal has moved the Delhi High Court to challenge all the nine summons issued to him by the Enforcement Directorate (ED) in connection with its investigation into the now-scrapped Delhi liquor policy. The court is scheduled to hear the case today. Kejriwal’s application to the Delhi HC states that all the nine summonses issued by the probe agency violate legal procedures and provisions. The ED had issued its ninth summons to Kejriwal asking him to appear before it on March 21 in connection to the case.
Former Maharashtra Chief Minister and Shiv Sena (UBT) chief Uddhav Thackeray today slammed the BJP for “stealing a Thackeray” to win elections in the state, a retort aimed at the recent meeting between MNS chief Raj Thackeray and Union Home Minister Amit Shah. Uddhav Thackeray also stated that the saffron party would not get votes in the name of Prime Minister Narendra Modi in Maharashtra.
