As the Fed looks to moderate borrowing and spending, slow the economy and tame inflation, Powell and other central bank officials have previously said they are making progress but aren't yet done.

Late on Friday, the Ministry of Finance announced the price hike, with petrol climbing by Rs 26.02 and diesel by Rs 17.34 per litre. The clearance for these hikes was granted by caretaker Prime Minister Anwaarul Haq Kakar.

The US Federal Reserve plays a crucial role in managing the country's monetary policy, influencing interest rates, inflation, and overall economic stability. A decision, as predicted by Citi's Global Chief Economist, to cut rates by 50 bps per quarter represents a substantial move, indicating the central bank's determination to provide ample monetary support to the economy.

The Two-Pillar solution to address the tax challenges of the digitalisation of the economy was agreed by 137 member jurisdictions of the OECD/G20 Inclusive Framework on base erosion and profit shifting (BEPS) and endorsed by the G20 Finance Ministers and Leaders in October 2021. But, Divakar Vijayasarathy, Founder & CEO at DVSAdvisors, argues in this column that despite the accommodations made specifically for developing countries, there are certain issues to be considered before adopting the solution.