Global news wrap: DeepSeek’s rise, monetary policy announcements, Oscar nominees
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Monetary policy shifts Several central banks will announce their monetary policy decisions in the coming weeks.
Their moves will be keenly watched by the markets amid potential geopolitical disruptions from the Donald Trump administration. The US Fed, which has eased rates since September 2024, is widely expected to hold rates in the February meeting to navigate uncertainties arising due to Trump’s immigration and tariff policies. Meanwhile, India could finally start easing monetary policy amid slowing economic growth and stable inflation.
The European Central Bank (ECB) and the Bank of England are also expected to cut rates amid sluggish economic growth despite worries about inflation persisting. Usually, central banks follow the Fed’s monetary policy path. However, 2024 saw a divergence as unique challenges forced countries to tweak their interest rates based on their local growth-inflation dynamics.
This will likely continue at the start of 2025 even as the strengthening US dollar has put significant pressure on emerging-market economies. After returning to power, US President Donald Trump moved quickly to reinstate policies related to his ‘America First’ agenda. On inauguration day, Trump signed more than 20 executive orders related to immigration, energy and the federal workforce.
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