The move comes as the spread of the coronavirus pandemic and a historic plunge in oil prices of late pose unprecedented threats to the Russian economy.
economy
China is Widely Expected to cut its Benchmark Lending Rate
China is widely expected to cut its benchmark lending rate on Monday to provide furthersupport for the coronavirus-hit economy, which shrank for the 1st time on record in the 1st quarter.
Budget 2020: Commerce Ministry Seeks a Reduction in Import Duty on Gold Market
The Union commerce ministry has sought a reduction in the import duty on gold in the coming Union Budget, with a view to pushing manufacturing and export of the gems and jewellery sector, a source said.
Federal Reserve Keeps Interest Rates Unchanged – Gold Silver Reports
The Federal Reserve said Wednesday that it would keep the benchmark interest rate at its current range of 1.5%-1.75%, a widely expected decision that ends the Fed’s rate-cutting streak.
The World’s Largest Trade Deal Could be Signed in 2020
After more than six years of negotiations, more than a dozen countries in Asia Pacific are now aiming to sign what would be the world’s largest trade agreement in 2020.
Federal Reserve chairman Jerome Powell announced an interest rate cut of 0.25% Wednesday
Federal Reserve chairman Jerome Powell announced an interest rate cut of 0.25% Wednesday, confirming analysts’ expectations of a cut amid softening inflation, a strong consumer economy and an uncertain international trade outlook.
Mnuchin says US-China Trade Deal is 90 Percent Done – Gold Silver Reports
Gold Silver Reports (GSR) – Treasury Secretary Steven Mnuchin said Wednesday that the U.S. and China are inching closer to finalize a long-awaited trade deal.
Fed Minutes: No Rate Moves are Coming ‘for Some Time’ Even if the Economy Improves
Gold Silver Reports (GSR) – Federal Reserve officials remained firmly committed to a “patient” policy stance at their meeting earlier this month, saying rates likely will remain unchanged well into the future.
US Trade Talks with China have Stalled – Gold Silver Reports
Negotiations between the U.S. and China appear to have stalled as both sides dig in after disagreements earlier this month.
Growth Stumbling But Central Bank Arsenals are Near Empty
Gold Silver Reports – Global economic growth is slowing, according to the International Monetary Fund, policymakers and hundreds of economists polled by Reuters – but that downturn is coming at a time when central banks’ arsenals are running on empty.