India’s central bank and regulator of banking
Federal Reserve Chair Kevin Warsh has convened five task forces to examine communications, data, the balance sheet, productivity, AI, and inflation frameworks. Leaders include Marc Andreessen, Doug McMillon, Mervyn King, Raj Chetty, and others. The groups will work with Fed staff and report to the FOMC, with changes expected by year-end.
BRICS leaders are meeting in New Delhi as tensions over US tariffs and dollar dominance shape the bloc’s cohesion. Washington’s use of tariffs and financial leverage is prompting BRICS members to seek greater economic independence, while the dollar’s reserve status remains strong.
The Reserve Bank of India has raised the repo rate by 25 basis points to 5.50% as inflation accelerates toward the RBI’s 4% target. The move mirrors global tightening amid Middle East energy risks and weak monsoon effects. Growth remains resilient, but policymakers warn that inflation and external shocks could weigh on activity.