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Days after Trump won his way to the White House, becoming the 47th President of the United States, the US Federal Reserve slashed the interest rates by 25 basis points, bringing them within the range of 4.5-4.75%. This is the second time this year that the Fed has lowered the interest rates, after cutting them down by 50 basis points in September 2024. u Fed chair Jerome Powell noted that monetary policy remains tight as inflation remains elevated at 2.4% as of September 2024, slightly above the 2% mark set by the commission. However, the Fed remained optimistic about the current state of the economy. "The Committee seeks to achieve maximum employment and inflation at 2% over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are roughly in balance. The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate," the FOMC (Federal Open Market Committee) noted in its press release. The rate cut was along widely anticipated lines, although experts were wary of the Fed's way ahead, given that Donald Trump has been elected as the US President. In the past, he has, on multiple occasions, expressed his desire to yield greater influence on the Fed, apart from publicly criticizing Powell. However, Powell continued to stand his ground, noting that Trump cannot legally sack him. He believed in keeping the Fed independent, at least until his tenure as governor ends in 2028. He highlighted that even if he is explicitly asked by Trump to quit, he won't do so. <h2>Trump's regime to inch up inflation?</h2> Trump's electoral promises, if translated into policies, could spell disaster for the Fed's effort to curtail inflation. Reportedly, Trump has promised to levy aggressive tariffs against US trading partners, particularly China, and even extend his 2017 tax cuts. This could mean higher levels of the federal deficit, which would push up prices, wages, and hence, inflation, even as the Fed tries to consistently bring it under control. Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, notes that it wasn't a surprise when the US Fed cut interest rates by 25 basis points (bps) to 4.75%. The Fed had given enough clues, and the market too had anticipated these rate cuts. "However, what was surprising was how the <keyword id="23863852" type="General" weightage="20" keywordseo="US-10-year-bond-yields" source="keywords">US 10-year bond yields</keyword> moved over the last one and a half months, which have been rising relentlessly from 3.6% to almost 4.5% despite the 50 bps cut in the last Fed meeting. It seems that the market is anticipating slower rate cuts going ahead, and maybe there are even chances of inflation rising. The bond yields have cooled off and slipped below the 4.335% mark. This should be bullish for emerging markets like India," he added.

US Fed cuts interest rates by 25 bps, Powell notes Trump's victory to have no impact on policy decisions

The Reserve Bank on Thursday proposed to create a <keyword id="22711172" type="General" weightage="20" keywordseo="public-repository" source="keywords">public repository</keyword> of <keyword id="21305551" type="General" weightage="100" keywordseo="digital-lending-apps" source="keywords">digital lending apps</keyword> in a bid to address the problems arising from mushrooming <keyword id="22711171" type="General" weightage="20" keywordseo="unauthorised-players" source="keywords">unauthorised players</keyword> in the segment. In another significant move, the central bank proposed to introduce a facility of "<keyword id="22710839" type="General" weightage="20" keywordseo="Delegated-Payments" source="keywords">Delegated Payments</keyword>" in UPI to enable an individual to allow another individual to make <keyword id="19957378" type="General" weightage="20" keywordseo="UPI-transactions" source="keywords">UPI transactions</keyword>. In a <keyword id="13144094" type="General" weightage="20" keywordseo="post-monetary-policy-review" source="Orion">post-monetary policy review</keyword> address, <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> <keyword id="20595794" type="General" weightage="20" keywordseo="Governor-Shaktikanta-Das" source="keywords">Governor Shaktikanta Das</keyword> said the central bank has taken several measures for the orderly development of the <keyword id="12577431" type="General" weightage="20" keywordseo="digital-lending-ecosystem" source="Orion">digital lending ecosystem</keyword> in India. In a bid to address the problems arising from unauthorised digital lending apps (DLAs), he said the RBI proposes to create a public repository of DLAs deployed by its regulated entities. "The regulated entities (REs) will report and update information about their DLAs in this repository. This measure will help the consumers to identify the unauthorised lending apps," Das said. On introduction of 'Delegated Payments' through UPI, the Governor said the facility would enable an individual (primary user) to allow another individual (secondary user) to make UPI transactions up to a limit from the primary user's bank account without the need for the secondary user to have a separate bank account linked to UPI. This, he added, will further deepen the reach and usage of digital payments. The central bank also announced an increase in the transaction limit for tax payments through UPI to Rs 5 lakh. Currently, the transaction limit for UPI is Rs 1 lakh, except for certain categories of payments which have higher transaction limits. "It has now been decided to enhance the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh per transaction. This will further ease tax payments by consumers through UPI," Das said. The Governor also announced measures to speed up cheque payment which will benefit both the payer and the payee. At present, cheque clearing through Cheque Truncation System (CTS), operates in a batch-processing mode and has a clearing cycle of up to two working days. "It is proposed to reduce the clearing cycle by introducing continuous clearing with 'on-realisation-settlement' in CTS," Das said. This means that cheques will be cleared within a few hours on the day of presentation.

RBI to set up public repository of digital lending apps to check unauthorised players

<ul><li>Donald Trump has won the US presidential elections, beating Kamala Harris.</li><li>Trump’s win may shift the <keyword id="23846166" type="General" weightage="20" keywordseo="global-energy-outlook" source="keywords">global energy outlook</keyword> in response to anticipated changes in policy.</li><li>Trump has consistently advocated boosting oil and natural gas production in the US.</li></ul>Trump's win in the US presidential election may shift the global energy outlook in response to anticipated policies says a report by Angel One Wealth. Donald Trump, known for his stance on domestic energy independence, has consistently advocated boosting oil and natural gas production in the U.S., a move likely to put downward pressure on global crude oil prices. According to the report from Angel One Wealth, crude prices could soon see a correction, as Trump is expected to keep prices in check by ramping up domestic production. His emphasis on self-reliance in energy is expected to reduce the U.S. dependency on foreign oil sources, thereby impacting global supply and pricing dynamics. The report said "Donald Trump is likely to keep the crude prices under tight control as Trump has consistently advocated for increasing domestic energy production" The report also noted that Trump's preference for a non-interventionist stance in foreign conflicts might help stabilize oil prices by allowing for quicker de-escalation. However, there is potential for volatility if Trump imposes new sanctions on Iran, which could disrupt the region’s oil supply. In general, the report suggests that Trump's impact on the energy sector may result in lower crude prices, though other external factors will remain influential. In addition to energy, Trump's policies are expected to be expansionary, meaning higher government spending which could increase the U.S. fiscal deficit and, consequently, its national debt. The rise in U.S. debt is anticipated to have a positive impact on gold prices, as heightened debt levels and potential inflationary pressures drive investors towards safe-haven assets. Gold is already experiencing high demand in China, adding further support to its value. While there are some arguments against gold due to reduced volatility in equity markets, a stronger dollar, and a potential "risk-on" rally in equities, the report noted that gold's fundamentals remain strong, making it an attractive asset in the current environment. "A rise in US debt is positive for Gold and this time is likely no different as inflation worries arise. Gold is also seeing unprecedented demand in China which further bolsters the asset class". The report also reiterated its positive outlook on silver, which, like gold, stands to benefit from economic uncertainty and increased demand for safe-haven investments. However, the gold prices on the other hand on Thursday also declined to ₹78,710 / 10gm, a day before it closed at ₹80,500. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms">Swiggy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Global energy outlook will shift once Trump returns to White House: Report

The ethnic group with the highest concentration of professional workers in the UK is Indian and considering <keyword id="21981222" type="General" weightage="20" keywordseo="ethnic-minorities" source="keywords">ethnic minorities</keyword> as a monolithic group for public policy purposes is now increasingly meaningless in the country, a new think-tank analysis concludes on Monday. 'A Portrait of Modern Britain: Ethnicity and Religion' published by the <keyword id="23544970" type="General" weightage="20" keywordseo="Policy-Exchange" source="keywords" meta.keywordsubtype="org" meta.entityname="Policy Exchange" meta.hostid="261" meta.entityid="Policy Exchange">Policy Exchange</keyword> reflects an in-depth examination of the demographic, educational, health and economic situation of different ethnic groups in the country. The report calls for a new government-led <keyword id="23544966" type="General" weightage="20" keywordseo="national-integration-strategy" source="keywords">national integration strategy</keyword>, with children in Britain taught to be proud of their national heritage in an inclusive manner that reflects the country's history and traditions. "The ethnic group with the highest concentration of professional workers was Indian - with British Indians also having the highest rate of home ownership - with 71 per cent living in a property which is either owned outright or owned with a mortgage/loan or shared ownership," the report notes. "The diversity contained with the term 'ethnic minority' is now so broad - both within each minority and between minorities - that considering ethnic minorities as a monolithic group for public policy purposes is now increasingly meaningless," it states. "Categories such as 'South Asian' do not only serve to mask over noteworthy economic and social disparities between Britain's Indians, Pakistanis, and Bangladeshis - but also mean that very real forms of diversity within these sizeable groupings at times go unrecognised," it cautions. The report analyses the <keyword id="23544967" type="General" weightage="20" keywordseo="2021-UK-Census" source="keywords">2021 UK Census</keyword> data and other statistical resources, combining this with polling conducted by Redfield and Wilton. Besides a nationally representative sample of 2,000 people of all ethnicities, "booster" samples were used of 1,400 ethnic minority respondents - 200 each from the Black African, Black Caribbean, Indian, Pakistani, Bangladeshi, Chinese and Mixed-Race ethnic groups. "These days, integration won't happen naturally... Recent years have seen conflicts generated far away from our shores break out on our streets. The politics of the Indian sub-continent and the Middle East for example are no longer 'quarrels in a faraway country between people of whom we know nothing'," Sir Trevor Phillips, senior fellow at Policy Exchange, says in his foreword. "Policy Exchange's portrait of our nation teaches us one thing above all: our future rests on managing our diversity, and complacency is the surest pathway to the growth of extremism and conflict," he concludes. Among the key findings of the analysis was that almost three in four people - 72 per cent of those polled - believe that children should be taught to be proud of <keyword id="23544969" type="General" weightage="20" keywordseo="British-history" source="keywords">British history</keyword>, with a majority also believing that Britain has historically been a force for good in the world. "Government agencies should also commit to disaggregating larger groups which are both ethnically and religiously diverse, as well as being far from homogeneous in terms of migratory background - especially the Indian and Black African ethnic categories," it recommends. The think-tank points out that the first 'Portrait of Modern Britain' was carried out for Policy Exchange in 2014 by two young researchers including one named <keyword id="19906889" type="General" weightage="20" keywordseo="Rishi-Sunak" source="keywords">Rishi Sunak</keyword>, who would go on to become the UK's first Prime Minister of Indian heritage and is currently the interim Opposition Leader in Parliament. The new project aims to identify how governments can successfully focus on what unites the different ethnicities of the country to build on the latent strengths of an integrated British identity and culture.

Indians have highest concentration of professionals among ethnic groups in the UK: Report

<ul class="summary-list"><li>Business titans like Jamie Dimon and Bill Gates reportedly back Kamala Harris — but not publicly.</li><li>It may be driven by fears of retribution from Trump and what a second term would bring.</li></ul>Both <a target="_blank" href="https://www.businessinsider.com/silicon-valley-billionaires-investors-kamala-harris-mark-cuban-reid-hoffman-2024-8">Vice President Kamala Harris</a> and <a target="_blank" href="https://www.businessinsider.com/which-billionaires-support-donald-trump-campaign">former President Donald Trump</a> have won support from America's business titans and CEOs. But not all of that support is being declared in public.On Tuesday, the New York Times reported that both <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-political-ambitions-retirement-plans-jpmorgan-3q-earnings-2024-10">JPMorgan CEO Jamie Dimon</a> and <a target="_blank" href="https://www.businessinsider.com/how-bill-gates-spends-fortune">Microsoft founder Bill Gates</a> support Harris, but won't say so publicly.Gates <a target="_blank" href="https://www.nytimes.com/2024/10/22/us/elections/bill-gates-future-forward-kamala-harris.html">reportedly donated</a> $50 million to a pro-Harris "dark money" nonprofit group that, unlike political action committees, is not required to disclose its donors. A spokesperson for Gates did not respond to Business Insider's request for comment, but in a statement to The Times that didn't acknowledge the donation, he said that "this election is different" for him.Dimon has <a target="_blank" href="https://www.nytimes.com/2024/10/22/business/jamie-dimon-jpmorgan-harris-trump.html">reportedly told associates</a> that he supports Harris, but won't go public out of fear of retaliation.All of which raises the question: What's there to be afraid of?There's certainly reason to believe that Trump, if elected, would pursue some degree of retribution against those who he believes have wronged him. As he's mounted his third campaign for the presidency, he has at times <a target="_blank" href="https://www.businessinsider.com/donald-trump-dictatorship-revenge-second-term-truth-social-2023-12">emphasized "revenge"</a> as a campaign theme, and he hasn't shied away from targeting individual companies. In one recent instance, he threatened to <a target="_blank" href="https://www.businessinsider.com/trump-tariff-threat-john-deere-economists-baffled-2024-9">impose a 200% tariff</a> on John Deere if they go forward with moving some of their manufacturing facilities to Mexico.As president, he frequently criticized — often via tweet — individual companies who he disagreed with, which occasionally affected stock prices.But Jeffrey Sonnenfeld, a professor at the Yale School of Management and the founder and president of the Chief Executive Leadership Institute, says that the idea of retribution is "overstated" — and that avoiding wading into politics has long been the norm for chief executives, most of whom have traditionally been Republican."They're more concerned about alienating customers and employees needlessly," Sonnenfeld, <a target="_blank" class="" href="https://www.businessinsider.com/jeffrey-sonnenfeld-the-ceo-whisperer-2021-11">dubbed the "CEO whisperer"</a> for his relationships with America's CEOs, told Business Insider. "Everybody's afraid of alienating large blocs of their own constituency. That's what they're afraid of. They're not afraid of… Trump."Politics, as it turns out, may just be bad for business these days."They don't see themselves as public officials. They don't think that that's their calling, that that's their strength," Sonnenfeld said. "So they don't want to get involved publicly in social issues, if they don't have to."Joe Evangelisti, a spokesman for JPMorgan, told Business Insider that Dimon and his company are not fearful of retribution from either Harris or Trump, but that Dimon wants to avoid having his comments "weaponized by the left or the right." He added that Dimon is happy to work with either candidate if elected and prefers to talk about policies rather than partisan politics.It's not hard to see why Dimon would feel this way, given recent events. After <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-trump-nato-immigration-maga-biden-presidential-election-2024-1">he said in January</a> that Trump was "kind of right" about NATO and immigration, he faced a firestorm of controversy. Dimon was later the subject of speculation over whether he would serve in Trump's administration, and earlier this month, he <a target="_blank" href="https://www.businessinsider.com/jamie-dimon-denies-donald-trump-claim-endorse-2024-10">denied Trump's claim</a> that he had endorsed him.But Dimon also has to ensure he has a good-enough relationship with Trump."I would never say that," Dimon <a target="_blank" class="" href="https://www.youtube.com/watch?v=-nUs_ppctB4">said</a> when asked if his position was "anything but Trump" last year. "You know, because he might be the president. I have to deal with that too."On the flipside, it's also possible that there are pro-Trump CEOs who don't want to alienate liberal customers and employees. In an appearance on CNBC's "Squawk Box" on Wednesday, billionaire hedge fund manager Bill Ackman suggested that there's a well of silent Trump support among CEOs."One of the few benefits of supporting Trump publicly is many, many people come up to me, CEOs, and say, 'Bill, thank you for saying what you're saying, I wish I were similarly situated where I could, but I have — you know, all my employees would quit,'" Ackman said.Still, Harris has received a <a target="_blank" href="https://www.businessinsider.com/mark-cuban-business-leaders-for-kamala-harris-2024-10">notable degree of support</a> from the business community, the most vocal example being investor Mark Cuban.According to Sonnenfeld, the Trump-related corporate activism of recent years — including around the January 6 insurrection — has been a historical anomaly driven by a sense that the country is in a moment of crisis."If there's something catastrophic, they will engage," Sonnenfeld said of CEOs, adding that we could see executives become more vocal if Trump were to lose the election and refuse to concede."There's a pretty high probability that if Trump isn't a clear winner, there's going to be a lot of confusion, if not a constitutional crisis," Sonnenfeld said. "And then they will get involved."

Why some CEOs are afraid of publicly criticizing Trump

<keyword id="20713053" type="General" weightage="20" keywordseo="Canadian-Prime-Minister" source="keywords">Canadian Prime Minister</keyword> Justin <keyword id="19898710" type="General" weightage="20" keywordseo="trudeau" source="keywords">Trudeau</keyword> announced Thursday that Canada will scale back its immigration targets after acknowledging his government’s struggle to balance labour demands and <keyword id="20421922" type="General" weightage="20" keywordseo="population-growth" source="keywords">population growth</keyword> following the pandemic. The decision comes after widespread criticism of the government’s initial plan to welcome 500,000 new permanent residents annually over the next two years. Trudeau now aims to reduce this number to 395,000 in 2025, with further cuts to 380,000 by 2026 and 365,000 by 2027. “In the challenging post-pandemic environment, we didn’t strike the right balance between labour needs and sustainable population growth,” Trudeau stated. “While immigration is crucial to Canada’s future, it must be controlled and sustainable.” Trudeau has faced growing pressure, even from within his <keyword id="20339137" type="General" weightage="20" keywordseo="Liberal-party" source="keywords" meta.keywordsubtype="org" meta.entityname="Liberal party" meta.hostid="261" meta.entityid="Liberal party">Liberal party</keyword>, not to pursue a fourth term. Critics argue that the rapid population growth has exacerbated Canada’s housing affordability crisis, adding strain to essential services. The Prime Minister emphasised that freezing population growth over the next two years will allow the government to better address housing, healthcare, and social service needs before scaling up again. Canada’s population reached 41 million in April, up from 37.5 million in 2019. Adding to his critique, Trudeau pointed to “exploitation” of Canada’s temporary <keyword id="23681096" type="General" weightage="20" keywordseo="foreign-worker-program" source="keywords">foreign worker program</keyword>, where certain corporations have prioritised hiring foreign workers over Canadians at fair wages. He also highlighted issues within certain educational institutions, which he said over-enroll international students beyond what communities can sustain. Immigration Minister Marc Miller expressed that reducing immigration targets would help alleviate housing shortages and acknowledged changing public sentiment on immigration. “Canada remains an open country, but not everyone can come,” Miller said, reaffirming the government’s commitment to ambitious but adjusted immigration targets. Opposition leader Pierre Poilievre blamed Trudeau’s policies for undermining Canada’s longstanding immigration consensus, arguing that Trudeau has damaged public trust in the system. Political analysts like <keyword id="19935890" type="General" weightage="20" keywordseo="University-of-Toronto" source="keywords" meta.keywordsubtype="org" meta.entityname="University of Toronto" meta.hostid="261" meta.entityid="University of Toronto">University of Toronto</keyword>’s Nelson Wiseman agree that while the government’s goals to support economic growth and counter an ageing population were sound, the lack of provincial-federal coordination on housing and welfare issues fueled public discontent. <div type="Article" hostid="261" msid="113486894" title="Canada to cut study permits for International students by 35%, Indian students to be impacted" mstype="2" mssubtype="0"></div>

Canada to reduce immigration targets by nearly 30% by 2027 as Trudeau acknowledges his policy failed

<ul><li>The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> will conclude the three-day <keyword id="19913109" type="General" weightage="20" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword> (<keyword id="19918491" type="General" weightage="20" keywordseo="MPC" source="keywords">MPC</keyword>) meeting today.</li><li>The central bank is expected to announce its decision on policy rates.</li><li>The <keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> has maintained the <keyword id="20094323" type="General" weightage="100" keywordseo="repo-rate" source="keywords">repo rate</keyword> at 6.50% for the past nine meetings.</li></ul>The Reserve Bank of India (RBI) is set to conclude the three-day Monetary Policy Committee (MPC) meeting today, with Governor <keyword id="19913110" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="keywords">Shaktikanta Das</keyword> expected to announce the central bank's decision on policy rates. The meeting, which <a href="https://www.businessinsider.in/finance/news/rbis-monetary-policy-committee-meeting-begins-today-announcement-on-october-9/articleshow/113999887.cms">began</a> on October 7, has garnered significant attention, as the RBI has maintained the repo rate at 6.50% for the past nine meetings. The repo rate has remained steady since the RBI adopted a cautious stance to balance inflation control and <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword>. Key factors that the MPC is weighing include persistent inflationary pressures, particularly in food prices, as well as global economic uncertainties. According to data from the Ministry of Statistics &amp; Programme Implementation, while All India Consumer Price Index (CPI) inflation moderated to 3.65% in August--within the RBI's target band of 2-6%. <keyword id="19999654" type="General" weightage="20" keywordseo="food-inflation" source="keywords">Food inflation</keyword> remains elevated at 5.65%, above the central bank's medium-term target of 4%. This, coupled with rising global crude oil prices due to geopolitical tensions in West Asia, has intensified concerns over inflation. Despite these challenges, the RBI has so far opted for a status quo on the repo rate, aiming to foster economic recovery after the pandemic. However, today's announcement will be closely watched to see if the central bank shifts its stance, especially given the external pressures and uncertainties surrounding global markets. Economists, however, have noted that the RBI will not make any changes in its policy stance before December. "With the focus on taming headline inflation, the RBI is likely to hold the rates although the core inflation is within the limit. It is possible the RBI may shift to the neutral stand" said M Govind Rao, Member, of the Fourteenth Finance Commission and former Director, of the National Institute of Public Finance and Policy. On September 18, the US Federal Reserve announced a steep 50 basis points interest cut in its review meeting. US Fed announced the rate cuts after holding interest rates steady for eight straight meetings. "In this overarching macroeconomic setting of heightened geopolitical tensions, core inflation inching upwards, oil price volatility, and high food inflation, we anticipate a change in the RBI's policy stance from "withdrawal of accommodation" to "neutral" at its forthcoming MPC meeting on October 9, 2024. However, we do not see any rate action coming and the benchmark interest rates may not undergo any change" said Manoranjan Sharma, Chief Economist, Infomerics Ratings. Earlier this month the central government appointed three new members to the monetary policy committee. The MPC comprises three members from the RBI and three external members appointed by the Central Government. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/byd-emax-7-electric-mpv-launched-in-india-starting-at-26-9-lakh/slidelist/114046121.cms">BYD eMax 7 electric MPV launched in India starting at ₹26.9 lakh</a> <a href="https://www.businessinsider.in/personal-finance/news/heres-how-a-reddit-user-was-able-to-get-an-iphone-16-at-under-27000/articleshow/114035179.cms">Here’s how a Reddit user was able to get an iPhone 16 at under ₹27,000</a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-swiggy-ather-upcoming-large-ipos-in-india/slidelist/114014140.cms">Hyundai To Swiggy: Everyone wants to cash in on the IPO bonanza</a>

RBI MPC announcement today: Rates unlikely to change, RBI may change stance to neutral

In a recent turn of events, over 70,000 <keyword id="20073340" type="General" weightage="100" keywordseo="international-students" source="keywords">international students</keyword> in <keyword id="19896882" type="General" weightage="20" keywordseo="Canada" source="keywords">Canada</keyword> are reportedly facing potential <keyword id="20040301" type="General" weightage="20" keywordseo="deportation" source="keywords">deportation</keyword> due to significant changes in the country's federal <keyword id="20872711" type="General" weightage="20" keywordseo="immigration-policies" source="keywords">immigration policies</keyword>. The measures, introduced by Prime Minister <keyword id="19898713" type="General" weightage="20" keywordseo="Justin-Trudeau" source="keywords">Justin Trudeau</keyword>'s government, have led to widespread <keyword id="19905184" type="General" weightage="20" keywordseo="protests" source="keywords">protests</keyword> across multiple provinces, including Ontario, Manitoba, British Columbia, and Prince Edward Island. These protests highlight the growing frustration and uncertainty among the international student community, many of whom came to Canada with the hope of building a better future. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">What sparked the protests?</h3>The root of the unrest lies in several recent <keyword id="20861068" type="General" weightage="20" keywordseo="policy-changes" source="keywords">policy changes</keyword> by the Canadian government aimed at controlling the burgeoning number of international students. The government announced that it would cap the number of new study permits to approximately 3,60,000 for 2024, representing a 35% reduction compared to the previous year. This move is part of a broader strategy to alleviate pressures on housing, healthcare, and other public services, which have been strained by the increasing influx of international students. Additionally, the government has introduced stricter eligibility criteria for the <keyword id="22947845" type="General" weightage="20" keywordseo="Post-Graduation-Work-Permit-Program" source="keywords">Post-Graduation Work Permit Program</keyword> (PGWP), a crucial pathway for international students to gain work experience and potentially transition to permanent residency. Starting September 1, 2024, students enrolled in certain programs at private colleges that operate under licensing arrangements with public institutions will no longer be eligible for this permit. This change has left many students, who have invested years of their lives and significant financial resources in their education, in a precarious position. <div type="Article" hostid="261" msid="112856583" title="Why are so many North American and European countries restricting immigrants?" mstype="2" mssubtype="0"></div><h2>Impact on international students</h2>For many international students, the changes have thrown their futures into disarray. These students, many of whom hail from India and other countries in Asia and Africa, are now facing the prospect of deportation, despite having completed their studies and, in many cases, having secured jobs in Canada. The uncertainty is compounded by the fact that some of these students are carrying substantial loans that they had taken out to fund their education in Canada. The protests have been organised by various <keyword id="22947846" type="General" weightage="20" keywordseo="student-advocacy-groups" source="keywords">student advocacy groups</keyword>, including the Naujawan Support Network, which has been vocal about the injustice faced by these students. According to the group, the new policies unfairly target those who have played by the rules and contributed to the Canadian economy, paying taxes and participating in the labour market. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">“Enough is enough”</h3>Canadian officials have defended the policy changes, arguing that they are necessary to maintain the integrity of the immigration system and ensure that international students have access to the resources they need for a successful academic experience. “International students are vital to Canada and enrich our communities. As such, we have an obligation to ensure that they have access to the resources they need for an enriching academic experience,“ explains <keyword id="19946179" type="General" weightage="20" keywordseo="marc-miller" source="keywords">Marc Miller</keyword>, Canadian Minister of Immigration, Refugees and Citizenship, in a press release. “In Canada, today, this isn’t always the case. Today, we are announcing additional measures to protect a system that has become so lucrative that it has opened a path for its abuse. Enough is enough. Through the decisive measures announced today, we are striking the right balance for Canada and ensuring the integrity of our immigration system while setting students up for the success they hope for,” he goes on to explain. <div type="Article" hostid="261" msid="112444174" title="A couple tested out life in Canada and Italy. They chose to move where salaries are lower but life is sweeter." mstype="2" mssubtype="0"></div>The government has also highlighted that the new measures are temporary and will be reassessed after two years. Meanwhile, the federal government has pledged to work with provincial governments and educational institutions to develop a more sustainable framework for managing international student admissions in the future. As the protests continue, the affected students and their supporters are calling on the Trudeau government to reconsider the policy changes and provide a clearer, fairer pathway to permanent residency. The outcome of this standoff could have lasting implications not only for Canada's immigration system but also for its reputation as a welcoming destination for international students.

“Enough is enough”: Canada imposes strict immigration policies that could deport 70,000 international students; protests erupt nationwide

<ul class="summary-list"><li>Neither Harris nor Trump outline specific disaster-relief policies on their website.</li><li>Their records, however, offer clues into how they'd deal with natural disasters as president.</li></ul>As another <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-evacuation-empty-gas-station-full-hotels-gridlock-traffic-2024-10">hurricane</a> threatens to devastate swaths of the Southeast, Vice President Kamala Harris and former President Donald Trump are under new scrutiny about their disaster response strategies. And though neither have specifically addressed how they'd approach disaster relief on their campaign websites, their environmental records offer clues into how they might deal with similar crises in the future.When Hurricane Helene bore down on six states, and with particular force in North Carolina and Georgia, both Harris and Trump said that the focus should be on providing aid, not politics. But the storm, which has killed more than 230 people and destroyed entire towns, has already crept into the presidential race. <a target="_blank" href="https://www.businessinsider.com/hurricane-helene-milton-tampa-florida-desantis-clean-disaster-dangerous-2024-10">Hurricane Milton is expected to hit Florida</a> on Wednesday night, only exacerbating the focus on environmental devastation."Disasters are always political," Thomas Birkland, a political scientist at North Carolina State University who studies the politics of national disasters, told Business Insider. He said that disaster relief is not, however, usually <a target="_blank" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">discussed during campaigns</a>.Timothy Kneeland, a professor at Nazareth University who studies politics and natural disasters, thinks that as hurricanes become more common, candidates should address them more explicitly."Having a short but clear statement on disasters should be part of any campaigner's policy," he wrote in a statement to BI.Both candidates have visited impacted areas, with Trump visiting Georgia on September 30 and <a target="_blank" href="https://www.businessinsider.com/kamala-harris-donald-trump-crises-middle-east-strike-hurricane-election-2024-10">Harris on October 2</a>. Republicans criticized Harris for attending a fundraising event in California when Helene struck, while she maintained that politicians should stay out of the most devastated areas as first responders begin their early work.In the days since Hurricane Helene, Trump has spread misinformation about the storm and response efforts, prompting the Federal Emergency Management Agency to publish a fact-checking page. <a target="_blank" href="https://www.businessinsider.com/hurricane-helene-relief-disinformation-misinformation-north-carolina-democrats-republicans-2024-10">Democrats and Republicans alike</a> say that the baseless claims are complicating <a target="_blank" href="https://www.businessinsider.com/donald-trump-elon-musk-starlink-hurricane-helene-fema-2024-9">clean-up efforts</a>, and Harris has put out a digital ad slamming his former disaster relief. When he was president, Trump responded to several hurricanes. As with Hurricane Helene, he <a target="_blank" class="" href="https://www.vox.com/politics/376982/trump-hurricane-helene-fema-lies-debunked">publicized</a> misinformation. When Hurricane Dorian threatened Georgia, South Carolina, and North Carolina, he incorrectly said that its path included Alabama as well. During a briefing in the Oval Office, he showed a map of the hurricane's path that included a Sharpie mark extending the storm's reach to Alabama. Trump also falsely claimed that the death toll from Hurricane Maria in 2017 was overblown, the <a target="_blank" href="https://www.washingtonpost.com/politics/2024/10/08/trump-hurricane-helene-natural-disasters/">Washington Post reported</a>.The former president occasionally threatened to hold back disaster funding over political spats. In 2020, for example, he floated withholding money from flood-ravaged Michigan because he was frustrated with absentee voting procedures in the state."A charitable interpretation would be mixed on crisis management," Birkland told BI about Trump's past responses to natural disasters. Kneeland said that storm victims and disaster experts largely criticized his handling of Hurricane Maria.During his time in office, Trump's administration rolled back more than 125 environmental rules, the <a target="_blank" href="https://www.nytimes.com/interactive/2020/climate/trump-environment-rollbacks-list.html">Washington Post</a> found, with a big focus on deregulating the fossil fuel industry. Trump's campaign has, according to Birkland, "been pretty clear that it disdains alternative fuels."Harris doesn't have a presidential record to back up her approach to disaster relief, but Birkland anticipates she'd take a relatively similar approach to President Joe Biden.As attorney general, Harris prosecuted oil companies that broke environmental rules. During her tenure as vice president, she voted for the Inflation Reduction Act, which devoted $370 billion to reducing greenhouse gas emissions.But both Birkland and Kneeland told BI that Harris has become less aggressive about addressing climate change this election, likely in an attempt to court more moderate voters."Harris' position is a little murkier," Birkland said. "Harris has been clear that we should be doing things like alternative energy, but also supports, as of recent months, continued fossil fuel production. So it's kind of a both-and strategy."Presidents are somewhat limited in their disaster responses — both Kneeland and Birkland told BI that states and local governments lead disaster responses, with the federal government's assistance."Even when FEMA is on the ground they must work within the structure of existing state and local government," Kneeland said in his written statement. The responsibility is, he said, layered throughout the government.Regardless, all eyes are on how Harris and Trump respond to the twin storms — and the outcome of the election could theoretically hang in the balance. Kneeland said that disaster response can either greatly boost or doom an incumbent, pointing to instances as varied as Hurricane Betsey in 1965, Hurricane Andrew in 1992, and Hurricane Katrina in 2005.Though Birkland doesn't anticipate that the hurricanes will sway many voters, he said that even a small impact in swing states could matter."I think most people's minds are made up. I think that you're really dealing with the margins," he said. "On the other hand, this election is going to be won or lost on the margins, so that matters."

Hurricanes are taking the election by storm. Here's where Harris and Trump stand on natural disaster policies.

<ul class="summary-list"><li>The Harris-Walz campaign launched a Fortnite map to engage young male voters.</li><li>The map, Freedom Town, USA, focuses on affordable housing and Harris' proposed policies.</li></ul>Welcome to <a target="_blank" class="" href="https://kamalaharris.com/fortnite/">Freedom Town, USA</a>, a Fortnite world created by the Harris-Walz campaign.On Monday, a new colorful world appeared in the video game Fortnite. It's littered with Easter eggs for Harris-Walz devotees: You can pick up sporting goods at <a target="_blank" class="" href="https://www.businessinsider.com/tim-walz-coach-kamala-harris-first-rally-2024-8">Coach Walz's</a> store, for instance, or head to <a target="_blank" class="" href="https://www.businessinsider.com/doug-emhoff-tim-walz-on-sidelines-kamala-harris-dnc-strategy-2024-8">Doug's Deli</a> for lunch. Slipped in between are details on some of the Harris campaign's main policy proposals.It's a move to reach the <a target="_blank" class="" href="https://www.businessinsider.com/porn-website-advertisement-project2025-male-harris-trump-2024-10">key young male</a> voters that <a target="_blank" class="" href="https://www.businessinsider.com/harris-campaign-sends-tim-walz-to-court-millennial-male-voters-2024-10">Harris would need</a> to carve out a path toward winning the election. Some of those avid gamers are eligible to vote this year. A <a target="_blank" href="https://today.yougov.com/topics/overview/survey-results/daily/2019/07/26/59418/2">2019 YouGov survey</a> of 1,570 US adults found that 22% of adults ages 18 to 24 had played Fortnite before; 82% of male Gen Zers play an hour plus of video games a week, per a survey of 5,000 Americans by the <a target="_blank" href="https://www.theesa.com/wp-content/uploads/2024/05/Essential-Facts-2024-FINAL.pdf">Entertainment Software Association</a> via YouGov.I took a trip to Freedom Town, USA, and spent the day observing and attempting to talk to players. Spoiler: There weren't very many, and a lot of them seemed to be children. Here's what I saw and learned.<h2 id="be1f2591-2a6b-4d46-8503-1a2602269832">Details on policy positions hidden inside a mission to build housing</h2>Getting to the map itself proved a challenge for a first-timer like me, as it's not part of the game's default and wildly popular multiplayer combat mode. A true Fortnite aficionado would've known how to use the access code online to find Freedom Town, but it took me a few minutes to track it down.When I finally arrived in Harris' Fortnite world, I was plopped into a train station that resembles the New York City subway or DC Metro.My mission: Use Harris' <a target="_blank" class="" href="https://www.businessinsider.com/kamala-harris-small-businesses-tax-breaks-cut-red-tape-2024-9">proposed $50,000 tax break</a> for small businesses to acquire building supplies to assemble new affordable housing.As I went about my tasks, I noticed the map was also very public transit-oriented, from the subway station to buses dotting almost every corner.For a Fortnite first-timer like me, the game was relatively easy to pick up, although I found myself floundering in mini-games meant to help me collect construction tools.At its peak, I saw around 180 other gamers present on the map with me. They seemed to be notably younger. One player who remained unmuted appeared to be a coughing child.To get a real gamer's perspective, I spoke to a 23-year-old in Ohio who had been exploring the world with her boyfriend.Lauren Obanion, a loyal Fortnite user in recent months, heard about Freedom Town, USA, from her mom. She thinks the map could make a real difference, especially because she said some gamers may not be in touch with policies. Small title cards for different quests discussed Harris' policies fairly in-depth — one of the first things you see upon entering the map is a quest invitation that tells you about the $50,000 tax credit for small businesses."It's nice for them to put something in a game so people can be interested and then want to do research outside of it," she said.So far, Freedom Town hasn't taken off; according to third party player statistics tracker Fortnite.GG, the <a target="_blank" class="" href="https://fortnite.gg/island?code=7331-5536-6547">Freedom Town map</a> saw an all-time and 24-hour peak of 563 users. That's a tiny fraction of the 24-hour peak of 267,000 players on the main <a target="_blank" class="" href="https://fortnite.gg/island?code=set_br_playlists">Battle Royale map</a>.But for some users, the message is still getting across. Obanion said her boyfriend is an example of a gamer who is interested in reading about some of her platforms as he built houses."I think it's good to try and reach out to the younger demographic," she said, "because otherwise a lot of people who don't get off Fortnite probably haven't seen anything."Ultimately, while I was not good at any of the mini-games — and didn't end up getting most of the construction supplies — I still did have a good time. I can understand how some gamers can get lost in the world of Fortnite for hours, but I have my doubts Freedom Town, USA, will impact the election very much.

I spent a day in Kamala Harris' Fortnite town. It was full of policy details meant to reach young voters, but was mostly empty.

In a significant <keyword id="20359239" type="General" weightage="20" keywordseo="political-development" source="keywords">political development</keyword>, <keyword id="19969165" type="General" weightage="20" keywordseo="Atishi" source="keywords">Atishi</keyword> is poised to become the next Chief Minister of Delhi, following the resignation of Arvind Kejriwal. The <keyword id="19935664" type="General" weightage="20" keywordseo="Aam-Aadmi-Party" source="keywords" meta.keywordsubtype="org" meta.entityname="Aam Aadmi Party" meta.hostid="261" meta.entityid="Aam Aadmi Party">Aam Aadmi Party</keyword> (AAP) convened a legislative meeting earlier today, where all MLAs unanimously accepted Kejriwal's proposal to nominate Atishi for the top post. <h2>Who is Atishi?</h2>Atishi Marlena, widely known as Atishi, is a prominent figure within the AAP and currently holds multiple key portfolios in the <keyword id="19925995" type="General" weightage="20" keywordseo="Delhi-government" source="keywords">Delhi government</keyword>. A Rhodes scholar, she has long been a key architect of AAP’s <keyword id="20374249" type="General" weightage="20" keywordseo="education-reforms" source="keywords">education reforms</keyword> in Delhi, which transformed the public schooling system and gained national attention. Her work has earned her recognition as a progressive leader committed to enhancing education, governance, and <keyword id="20228723" type="General" weightage="20" keywordseo="public-welfare" source="keywords">public welfare</keyword>. Atishi has served as a Delhi MLA, representing the Kalkaji constituency, and has been an essential part of the Kejriwal-led government. She took on many responsibilities when Kejriwal was jailed in connection with the excise policy case, and her reputation for efficiency and dedication helped solidify her as a strong contender for the chief ministerial position. <div type="Article" hostid="261" msid="113312516" title="Supreme Court grants bail to Chief Minister Arvind Kejriwal in Liquor scam case" mstype="2" mssubtype="0"></div><h2>Kejriwal’s resignation and resultant suspense</h2>The sequence of events leading to Atishi's ascension began with Arvind Kejriwal's sudden announcement that he would resign as Delhi’s Chief Minister. On September 13, 2024, Kejriwal was released from Tihar Jail, where he was lodged for his alleged involvement in the Delhi liquor policy scam. Following his release, Kejriwal took to the public platform to declare that he would step down, pending a “certificate of honesty” from the people of Delhi. In a political gambit that stunned many, Kejriwal pushed for advancing the polls to November 2024, ahead of the originally scheduled February 2025 elections. His rationale was that only a fresh mandate from the people, whom he asked to consider his honesty as the deciding factor, would validate his return to power. Until then, he vowed not to reassume the office of Chief Minister. "I didn't resign (after arrest in excise policy case) because I respect democracy and the Constitution is supreme for me," Kejriwal had said earlier. <div type="Article" hostid="261" msid="113364559" title="Delhi CM Arvind Kejriwal announces resignation, demands Delhi elections in November" mstype="2" mssubtype="0"></div>Kejriwal’s resignation prompted a flurry of activity within AAP, as speculation mounted about who would succeed him. The party’s Political Affairs Committee (PAC) and other senior leaders, including Manish Sisodia, Saurabh Bharadwaj, and Gopal Rai, held several rounds of discussions. Names floated for the role included Atishi, Gopal Rai, Kailash Gahlot, Saurabh Bharadwaj, and even Kejriwal’s wife, Sunita Kejriwal. Some sources hinted that a surprise candidate from a minority community could also emerge. However, Atishi was always seen as the frontrunner. She holds a majority of the key portfolios in the Delhi government and was handpicked by Kejriwal to unfurl the national flag on August 15 while he was in jail — a symbolic gesture that hinted at her growing political stature within the party. <h2>Atishi’s nomination and the path ahead</h2>The AAP legislative meeting, held at Kejriwal’s residence earlier today, saw Atishi’s nomination as the new Chief Minister of Delhi. The decision was unanimously accepted by all AAP MLAs, with Kejriwal personally proposing her name. Once Kejriwal officially tenders his resignation later today, Atishi will likely meet Lieutenant Governor VK Saxena to stake her claim for the CM’s office. It is expected that Atishi will not take the oath of office immediately, as the process involves proving majority on the floor of the Delhi Assembly and appointing a new council of ministers. Sources suggest that the swearing-in ceremony may take place closer to the next Assembly session. Atishi’s rise to the Chief Ministerial post comes at a time of political turbulence for AAP. Kejriwal’s resignation, driven by his desire to restore his public image following his incarceration, has put the party in a precarious position. The opposition <keyword id="14666" type="General" weightage="20" keywordseo="bjp" source="Orion">BJP</keyword> has termed Kejriwal’s resignation a "PR stunt" aimed at deflecting attention from the corruption charges. Atishi, with her track record of governance and public service, represents a fresh face for AAP, one that can potentially rejuvenate the party’s image. She will need to navigate a host of challenges, including the corruption allegations surrounding Kejriwal and the upcoming elections. Whether she will be able to maintain the party’s grip on Delhi or lead it to a new electoral victory remains to be seen. (With inputs from agencies)

Atishi set to become Delhi's new Chief Minister as Arvind Kejriwal steps down months before the assembly elections

The markets around the globe will be eying the speech given by <keyword id="19904332" type="General" weightage="20" keywordseo="Federal-Reserve" source="keywords" meta.keywordsubtype="org" meta.entityname="Federal Reserve" meta.hostid="261" meta.entityid="Federal Reserve">Federal Reserve</keyword> Chair <keyword id="20058769" type="General" weightage="20" keywordseo="Jerome-Powell" source="keywords">Jerome Powell</keyword> at the Jackson Hole Economic Policy Symposium later today. The central bankers and experts will be actively listening to the most influencing monetary policymakers, amid high expectations of lowering of policy repo rates by the American central bank in September this year. This annual meeting of the Federal Reserve poses a significant importance in paving the way for the upcoming monetary decisions in the US. This year's Jackson Hole Economic Policy Symposium is considered even more significant as the majority of the Fed members have indicated a policy rate cut in September. Experts around the world are expecting announcements on the policy rate front from the Fed Reserve Chief during the event. In the latest meeting held on July 30-31, 2024, the <keyword id="20064878" type="General" weightage="20" keywordseo="Federal-Open-Market-Committee" source="keywords" meta.keywordsubtype="org" meta.entityname="Federal Open Market Committee" meta.hostid="261" meta.entityid="Federal Open Market Committee">Federal Open Market Committee</keyword> (FOMC) decided to maintain the target range for the federal funds rate at 5.25 to 5.5 per cent. The Federal Reserve Bank of Kansas City's Economic Policy Symposium in Jackson Hole, Wyo., is one of the longest-standing central banking conferences in the world, as mentioned on the official website. The event brings together economists, financial market participants, academics, U.S. government representatives, and news media to discuss long-term economic policy that affects the economy. This year's theme for the annual event is "Reassessing the Effectiveness and Transmission of <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">Monetary Policy</keyword>," which is being held from August 22 to 24. The participants are selected based on the expertise of the experts who discuss different sectors of the economy during the two-day event. The event is known for the open discussions affecting policies around the globe. It provides vehicles for the advancement of ideas and public discussions. The event that took place in 2020 saw the most influential monetary policy that was widely adopted by the central banks around the globe. The central banks globally adopted accommodative policies to offset the shocks caused by the Covid-19 pandemic. Soon after the pandemic reduced and inflation surged the central banks around the world responded taking ideas from the result of the symposium. According to the information available on the official website, Powell's remarks will be streamed on the Kansas City Fed's YouTube channel, External Linkyoutube.com/kansascityfed on Friday, Aug. 23. The papers and details of the discussions will be available on the Kansas City Fed's website. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

You Searched For "Public Policy" and got 12 results

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“Enough is enough”: Canada imposes strict immigration policies that could deport 70,000 international students; protests erupt nationwide

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