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The Multivariate Core Trend inflation gauge, disclosed by the bank, revealed a reading of 2.6% for October, down from September's 2.88%. The higher MCT level, compared to the pre-pandemic average, was attributed to specific trends in housing and non-housing services.
The entire world economy has defied pessimists, and 2023 is turning out to be a much better year than expected. The good news will spill over into 2024. Hence, one can expect markets to rise across the world. Emerging markets will see a return from a lot of the hot money withdrawn earlier on fears of a global slowdown.
Bitcoin surpasses $40,000 for the first time since May 2022, fueled by expectations of interest-rate reductions and increased demand from exchange-traded funds.
Market participants are turning their attention to upcoming policy meetings of central banks, including the Reserve Bank of India (RBI) and the US Federal Reserve.
Federal prosecutors in Manhattan brought murder-for-hire charges against Nikhil Gupta, 52, an Indian national and alleged narcotics dealer and gunrunner who was arrested in the Czech Republic in June and is awaiting extradition