the figures came just as the federal reserve kicked off its two—day policy meeting. investors are now more optimistic than ever that the central bank will likely leave the cost of borrowing unchanged this month. my colleague michelle fleury has more. policymakers inside here. america's central bank, have been raising interest rates since march 2022 to make it more expensive to borrow money. their goal — to slow the rapid increase in prices without cooling down the economy so much that people start to lose theirjob. and with the most recent data showing signs that inflation is easing, the federal reserve is expected to leave interest rates unchanged injune. charles lieberman, who has worked at the new york fed and who's now chief investment officer at advisors capital management, explained the rationale. the fed has tightened policy

quicklx _ the fed has tightened policy quickly. a increase in excellent bit over a year and that — excellent bit over a year and that is— excellent bit over a year and that is huge, historically it's a enormous increase and i think is a lot, — a enormous increase and i think is a lot, there is one view that— is a lot, there is one view that the _ is a lot, there is one view that the fed should wait to see the impact of what they have dona — any break may be short lived. us inflation is still running well above the fed's 2% target. so the pain from higher borrowing costs to companies and to consumers is likely not over, according to diane swonk, chief economist at kpmg in the us, who believes the fed will raise rates again injuly. pauses not at an end. we have seen _ pauses not at an end. we have seen the — pauses not at an end. we have seen the fed play overgrown with — seen the fed play overgrown with words like skip they don't want _ with words like skip they don't want to— with words like skip they don't want to because let their guard down _ want to because let their guard down yet — want to because let their guard down yet in regards to inflation and that's wave is seen — inflation and that's wave is seen emerge across central ttanks— seen emerge across central banks in— seen emerge across central banks in weeks across the world _ banks in weeks across the

world th— banks in weeks across the world. �* ., , , world. a reminder that stubborn inflation is _ world. a reminder that stubborn inflation is not _ world. a reminder that stubborn inflation is not just _ world. a reminder that stubborn inflation is notjust an _ inflation is notjust an american problem, while all eyes will be on the federal reserve this wednesday, eyes will go to other areas to see their decisions later this week. elsewhere in the world, time is running out for businesses targeted by hackers linked to a russian ransomware group earlier this month. they have until wednesday to begin negotiations. hackers have threatened to publish the payroll data of those who don't comply. a number of firms, including british airways and the bbc, have been affected. earlier, i spoke with amit yoran of cybersecurity firm tenable. and he explained what companies should do. i think the important thing is for organizations to understand whether or not they have been compromised to engage with local law enforcement to understand what is likely to come over the next few days as the deadline expires. many organizations, historically, have paid ransoms in order to

avoid headlines and data leaks and others have decided not to. would you suggest they pay the ransom or do they hold out and not do so? i ransom or do they hold out and not do so?— not do so? i am not going to rovide not do so? i am not going to provide advice _ not do so? i am not going to provide advice to _ not do so? i am not going to provide advice to individual. provide advice to individual organizations that have been compromised but i would say, systemically, we are better off when the organizations do not be ransom. work with law enforcement, engage with cyber professionals to ensure that any information and data posted is taken down very quickly and doesn't cause damage to the organization. when need to pay raymond ransom, it becomes a self perpetuation cycle.- self perpetuation cycle. what ou tell self perpetuation cycle. what you tell the _ self perpetuation cycle. what you tell the individuals - you tell the individuals impacted by the breach? it’s impacted by the breach? it's important — impacted by the breach? it's important for _ impacted by the breach? it�*s important for individuals to protect themselves. make sure you have monitoring software that looks at your credit rating, that looks at when your accounts are open in your name and make sure you are applying the best protection you can see your personal computers and your personal computers and yourfamily, make sure

your personal computers and your family, make sure your maintaining good hygiene. i plan to free patches wendy, you're from your software vendors. meanwhile, former twitter boss jack dorsey has accused india of threatening to shut down the social media platform in the country unless it restricted accounts critical of government handling of farmer protests back in 2020. mr dorsey, who left twitter a year later, said new delhi also threatened the company with raids on its staff. he made the comments on youtube and gave no evidence for his claims. india has since called the assertions a lie. still staying in asia. it's been exactly a month since thailand voted in its general election — and the frontrunner to become the country's next prime minister is now facing a probe that could disqualify him. 0pposition parties swept to a landslide win last month and their attempts to form a new government look set to face resistance in the face of a military—appointed senate. galvin chia is with natwest markets and he explains how the political uncertainty is playing out with investors.

i think there is an element where investors are uncertain or cautious about the potential effects of the election. i think that is withholding some of the optimism around some of the tight markets in particular. it's notjust about this domestic environment but the global in environment. what was inflation do? what would the investment climate be like? what's our market sensibilities like? ., , ., what's our market sensibilities like? ., ., like? those are coming together at this time- _ like? those are coming together at this time. you _ like? those are coming together at this time. you just _ like? those are coming together at this time. you just mention i at this time. you just mention inflation. the thailand center bank raises rates, do you think this like the fed, they're hoping there'll me some pause or with thailand continue to have to hike the rates of borrowing? i have to hike the rates of borrowing?— have to hike the rates of borrowin: ? ~ ., ., �* , borrowing? i think thailand's oli borrowing? i think thailand's policy rates _ borrowing? i think thailand's policy rates are _ borrowing? i think thailand's policy rates are relatively - borrowing? i think thailand's| policy rates are relatively low right now and the central bank there is at the moment likely to stay on pause. they will be cautious about potential

impacts with reopening and tories community and policies of course but i don't think as many central banks will save they are more prudent to say that they are going to reserve some of this potential interest rate increase in case anything p°p5 up rate increase in case anything pops up in the future. we saw in the first _ pops up in the future. we saw in the first quarter _ pops up in the future. we saw in the first quarter with - in the first quarter with thailand that tourism them back. despite the uncertain state around its political situation, could the tourism industry keep talent afloat? i industry keep talent afloat? i think that's a really good question. tories is such a key part of the tile in economy and eight out of the estimates between tourism numbers are increasing. consumer sentiment is registered in the highest number for 18 is registered in the highest numberfor 18 months and a manufacturing sentiment is good. notwithstanding the political concerns are concerns about investing in the economy, the sentiment on the ground seems to be steady clip. the

thai economy _ seems to be steady clip. the thai economy has _ seems to be steady clip. the thai economy has been up and on what you see this landing? so much of what you see this landing? sr much of the currency is reliant on things that the fed but on the outlook of the climate. if we get the us economy coming to a goldilocks kind of thing where growth is still there if the fed doesn't raise interest rates too high and the chinese are recovering, then i think that can close some potential operation appreciation for that site currency. ndia's gdp crossed $3.5 trillion in 20—22. and according to a recent moody's report the country is expected to be the fastest growing g—20 economy for the next few years. but the country's absence in global multilateral trade pacts will likely remain a challenge. nikhil inamdar explains. a number of positive factors will make india the fastest growing g20 economy over the next few years, according to moody's. rising per capita incomes.

a growing working age population, and more and more people moving from the village into the cities, will essentially, drive more demand for everything from cars to houses, and thereby for steel and cement. but the country faces long term barriers to growth that could blunt its competitive advantage when compared to its asian peers. whether it is land acquisitions, whether it is the processes in acquiring or renewing licences, which if those continue, then obviously that's going to delay project execution, it's going to elongate the project span. the other thing is the economic liberalization of the country, right? i mean, india is not part of the rcep, which means that, you know, when india competes with other countries, emerging market countries such as vietnam or in indonesia, that could some extent limit the amount of foreign direct investments, the fda investments that come into the country. another factor about india's growth that's worrying analysts as it becomes the world's most populous country is inadequate investments in education.

that's one of the key social risks that, you know, india is is exposed to. the issue is that, you know, will india be able to create as manyjobs for this growing population that comes into the working age group? officials from india's finance ministry are reportedly likely to lobby moody's for a sovereign ratings upgrade later this week. but despite strong economic fundamentals, the country's high debt and weak public finances remain major obstacles for a change in stance. nikhil inamdar, bbc news, mumbai. former us president donald trump has landed at newark airport after being in miami court earlier today. he is due to speak in about 30 minutes and he has pleaded not guilty to dozens of federal charges for stop president trump is

accused of ivan national secrets after taking thousands of classified documents when he left office. that's all we have on asia business report, i monica miller. bye for now. bbc news bringing you different stories from across. it was the tuesday after the king's coronation and caroline said it was the heaviest rain she'd ever witnessed. it soon started to pour into her home, flooding the downstairs, but for repairs to take place there, 0pposite caroline. alice runs her own catering company. her kitchen was completely flooded, and the cost to her business has been severe. we chose not to claim on our insurance and cover the costs ourselves. probably because we're more scared. will we get renewal if we do?

how much will our premiums go up with rising costs all the time? as a small business, you just can't afford to keep paying out premiums. there's criticism that the rivers aren't kept clear, but the environment agency says the amount of water that day was overwhelming. there was a huge amount of water in a short space of time to get to that channel. and the truth is that the channel size was overwhelmed. the water came and went in a matter of hours. the clean up and the recovery will take a lot longer. for more stories from across the uk, head to the bbc news website. hey, i'm zoff with the catch up. tonight.

covid inquiry hearings begin, boot symmetery and more month city celebrations. but first, two of the three people killed in nottingham early on tuesday were uni students. details are still sketchy, but police say there are a number of incidents in different parts of the city as well as the three killed. another three people were hit by a van and one is in critical condition. a vigil has been held in nottingham and a 31 year the student said he saw police just before the arrest. i heard the policeman shout to the guy in the van to get out of the car and then proceeded by a sound of a gunshot. some other stories now. it's the first day of hearings for the covid inquiry. this part is looking at how ready the uk was for a pandemic. no—one will be found guilty here, though. the point of this is just to learn lessons for the future. and next, ladies, have you ever felt conscious about your boots being different sizes? well, it turns out you're not alone because women in dorset have been speaking about this.

turns out it actually affects up to 94% of us. and a woman who doctors thought was dead was actually found breathing in a coffin in ecuador. her family opened it to change her clothes before the funeral, and she gasped for air. time now for ten seconds of football fun. we all have a mate who takes it too far on a night out. that was man city players last night as they celebrated winning the treble. winning the treble. can you really blame can you really blame them, though? them, though? that is very, very good work, lads. that is very, very good work, lads. and you're all caught and you're all caught up now by. up now by.

major — the us open hello, i'm marc edwards from the bbc sport centre. coming up on this programme... the clock is ticking with the ashes starting on friday. we're at edgabston to find out more on fitness concerns around england captain ben stokes. will he stay or will he go? seems like kylian mbappe could be doing both at psg, we'll have the latest on a topsy turvy transfer day for the france international. . .. and is mcilroy miffed? and is mcilroy miffed? he pulls out of his he pulls out of his pre—tournament press conference — ahead of the next golfing pre—tournament press conference — ahead of the next golfing major — the us open