India: India’s Dodo Dynasties Fear Extinction At The Polls
CNBC reports that a new breed of politician is emerging in India ahead of the forthcoming elections. Candidates such as Narendra Modi and Arvind Kejriwal, both with relatively modest family backgrounds, threaten to push others with a long family tradition of political prominence out of power.
United Kingdom: UK Interest Rates Are Kept At 0.5%
The Bank of England maintains the benchmark interest rate at 0.5%; this value has been unchanged for five years now, as stated by the BBC. The Bank’s GBP 375 billion Quantitative Easing program also remains unchanged. According to the BBC, this is the first rate decision after the Bank’s forward guidance policy has been changed. Whereas a the former policy established a link between rate decisions and the unemployment rate, the new forward guidance links rate decisions to a set of 18 indicators that are meant to reflect the economy’s spare capacity.
Eurozone: Draghi: Ukrainian Tensions Could Have Serious Implications For Europe
At its monetary policy meeting held on 6 March, President of the European Central Bank (ECB), Mario Draghi, stated that the impact of the Ukrainian crisis on the energy market, while minimal in the short term, could escalate.
Turkey: Erdogan Says Turkey Could Ban Facebook And YouTube
According to a report from Reuters, Prime Minister Tayyip Erdogan stated that the government could ban Facebook and YouTube after local elections scheduled for March 30, claiming that social networks have been abused by his political enemies.
China: Will Emerging Markets Come Back?
Michael Pettis analyzes the possibility of an economic rebound in Emerging Markets. According to him, emerging markets may well rebound strongly in the coming months, but any rebound will face an ugly arithmetic.