#Monetary policy

.Italy
Apple did not make it clear that this feature exists under certain specific conditions, says Italy. (Photo Credit: Pixabay)

  • Fine has been imposed on a charge of misleading and  aggressive commercial practice
  • The authority also thwacked Apple’s disclaimer as a deliberate attempt to mislead consumers
  • The disclaimer said that the warranty for  smart phones did not cover damage caused by liquids

.London, UK
The Bank of England forecasted a deeper coronavirus-induced recession for the UK. (Photo Credit: Twitter/@bankofengland)

  • The Bank of England held its benchmark interest rate at a record-low 0.1%
  • The BoE lifted its quantitative easing stimulus by the equivalent of $195 billion
  • Meanwhile, the announcement took the central bank's total QE stimulus amount to £895 billion

.Delhi, India
The interest-setting panel was scheduled to meet for three-days beginning Tuesday. (Twitter/@ANI)

  • RBI did not give any reason for rescheduling the meet
  • It said the new dates  will be announced shortly
  • RBI is also awaiting the government’s decision on new external members to the committee

.New Delhi, Delhi, India
RBI Governor Shaktikanta Das announced the decisions of the Monetary Policy Committee (MPC) on Thursday. (Photo Credit: Twitter/ANI)

  • The GDP growth will contract in the first half of 2020-21
  • RBI has kept the repo rate and reverse repo rate, unchanged
  • It proposed several regulatory and developmental measures

.New Delhi, Delhi, India
The six-member Monetary Policy Committee is headed by the RBI governor Shaktikanta Das. (Photo credit: AFP)

  • The repo rate remains unchanged at 4%
  • The reverse repo rate has been kept at 3.3%
  • This is the 24th meeting of the Monetary Policy Committee