The RBI has cut interest rates on every single occasion the MPC met since Shaktikanta Das took over as the Governor in last December. Consequently, the reverse repo rate held at 4.90 percent. All five members of the MPC have voted in favour of holding rates. The Reserve Bank of India (RBI) said the benchmark repo rate - the level at which it lends to commercial banks - would remain unchanged at 5.15 percent, a nine-year low.
The statement alerted investors, who had expected the United States and China to move to a phase-one deal that would have taken future tariffs from coming into existence. It urges Trump to impose sanctions for the first time on a member of China's powerful Politburo, Xinjiang Communist Party Secretary Chen Quanguo. The Chinese foreign ministry said that it would defend its "legitimate and lawful interests" in negotiations with the US.
The Organization of Petroleum Exporting Countries and its allies, who will gather in Vienna in the coming days, are poised for a debate about some nations' lax implementation of production cuts. economic data. Prices were also supported after Iraq's oil minister said on Sunday that OPEC and allied producers will consider deepening their existing oil output cuts by about 400,000 barrels per day (bpd) to 1.6 million bpd.
It has always been a point of contention between Trump and French President Emmanuel Macron , who initially enjoyed a relatively drama-free relationship. "What we want is a plan for worldwide tax that is on the table" at the Organization for Economic Cooperation and Development, Le Maire said. US Trade Representative Robert Lighthizer added that the digital services taxes of Austria, Italy and Turkey could also be subject to the same investigation.
The terms of a previously-reported-on preliminary settlement in a gender discrimination suit between Riot Games and multiple former women employees would see Riot pay out $10 million total. According to the Los Angeles Times , Riot and the two plaintiffs involved in the lawsuit have all agreed to the terms of the settlement, although the court is yet to give its final approval.
On Monday, US trade officials said that they had investigated the measure and found it was "unusually burdensome for affected US companies", according to a statement. "We can see that the United States is shifting into reverse", Le Maire said, reported AFP , adding that while the U.S. had expressed interest in an "international solution" from the Organization for Economic Co-operation and Development, Washington "now isn't sure it wants one".