Results of the Monetary Policy Committee Meeting on June 26, 2024 Today, the Monetary Policy Committee (MPC) of the Central Bank of (Country Name) voted unanimously to: * Maintain the benchmark policy rate at 4.50%. Economic Outlook The Committee noted that the economy continues to recover steadily from the COVID-19 pandemic, albeit at a slower pace than previously anticipated. GDP growth is projected to moderate to 3.2% in 2024, down from the 3.8% forecast in April. Inflation remains a concern, with the headline inflation rate rising to 5.2% in May 2024, well above the 2.0% target. The Committee attributed this primarily to supply chain disruptions and the ongoing war in Ukraine. Monetary Policy Decision The decision to maintain the policy rate at 4.50% reflects the Committee’s assessment that while inflation remains elevated, the economy is still in a recovery phase. Raising rates too aggressively could derail the ongoing recovery. The Committee also considered the potential impact of global economic and financial conditions on the domestic economy. It noted that global growth is slowing and that financial markets have become more volatile in recent months. Future Guidance The Committee reiterated its commitment to price stability and economic growth. It stated that it will continue to monitor economic and financial developments closely and adjust its monetary policy stance as necessary. The Committee expects to raise rates gradually in the coming months if inflation persists above the 2.0% target. However, it emphasized that the pace and extent of rate increases will depend on economic conditions. Market Reaction The decision was largely in line with market expectations. The domestic currency remained stable, while interest rates on government bonds edged slightly higher. Stock markets showed a mixed reaction, with some sectors gaining and others falling. Conclusion The Monetary Policy Committee remains focused on maintaining price stability and supporting economic growth. It will continue to monitor economic and financial conditions and adjust its monetary policy stance as necessary.Nicole Kidman and Naomi Watts Grace Balenciaga Fashion Show in ParisNicole Kidman and Naomi Watts Grace Balenciaga Fashion Show in Paris Nicole Kidman and her daughter Sunday Rose Urban joined close friend Naomi Watts for a glamorous outing in Paris. The trio attended the star-studded Balenciaga fashion show, with Kidman seated in the coveted front row alongside Watts. The Oscar-winning actress donned a sleek long black dress with a high neck and cap sleeves, accessorized with tinted sunglasses and her signature strawberry blonde hair. Sunday Rose imitated her mother’s sophisticated style in a black high-necked dress, tights, and sunglasses. Kidman’s appearance at the Balenciaga show marked a rare public outing for her eldest daughter. The actress and her husband, Keith Urban, share two daughters: Sunday Rose and Faith Margaret. The outing came shortly after Kidman made history as the first Australian to receive the American Film Institute’s Lifetime Achievement Award. The prestigious honor recognizes her four-decade career in the film industry. Kidman and Watts’ friendship spans over two decades. They starred together in the 2011 film “The Paperboy” and have remained close since. Watts attended the AFI Lifetime Achievement Awards with Kidman and her family, showing her support for her friend’s remarkable accomplishment. The Balenciaga show was a reunion not only for Kidman and Watts but also for their daughters. Watts’ daughter Kai, from her relationship with Liev Schreiber, joined the group at the event. Naomi Watts opted for a white skirt suit with sharp shoulders, reminiscent of Balenciaga’s iconic 1950s couture designs. The outing showcased the close bond between Kidman, Watts, and their daughters, as well as their shared passion for fashion and the arts.Monetary Policy Committee Maintains Rates Amidst Economic Uncertainty In its June 26, 2024 meeting, the Monetary Policy Committee (MPC) of the central bank voted to maintain its benchmark interest rate at 0.5%. The decision was unanimous, with all nine committee members agreeing on the appropriate action. The MPC acknowledged that the economy continues to face significant uncertainty, with ongoing geopolitical tensions and inflationary pressures weighing on the outlook. However, the committee also noted that recent economic data has been mixed, with some indicators pointing to a slowdown in growth while others suggest that consumers and businesses remain resilient. In its statement following the meeting, the MPC emphasized the importance of maintaining a cautious approach. The committee expressed concern that raising interest rates too quickly could stifle economic growth, while delaying rate hikes could allow inflation to become entrenched. The MPC also noted that inflation remains above its target of 2%. The committee attributed the elevated inflation to supply chain disruptions, geopolitical uncertainty, and strong consumer demand. However, the MPC expressed confidence that inflation would gradually decline as these factors abate. The decision to maintain interest rates marks a continuation of the MPC’s accommodative monetary policy stance. The committee has kept rates at historic lows since the onset of the COVID-19 pandemic in an effort to support economic recovery. Economists and market analysts welcomed the MPC’s decision, noting that it provides stability during a period of uncertainty. However, some analysts cautioned that the central bank could face pressure to raise rates more aggressively in the future if inflation remains stubbornly high.