presidents at reserve banks around the country.+12, our, operatives was on the fomc. in any given year, all of the seven governors about and five of the 12 reserve bank presidents vote. but one of the voters has always been the new york fed. >> when you have an fomc meeting how many do you have your. >> as we have eight a year. >> eight a year, and when you get together you get together for two days or something? >> we do. so generally starts at noon or in a morning of a tuesday and we go all day. we generate talk about the economy, the financial stability issues come whatever special topics there may be. at the end of the day each person speaks on those things and i speak at the end of that day. then there's a brief presentation a monetary policy and then we go to dinner upstairs in the martin building and come down the next month, we come down at 9:00 and talk about monetary policy until we are satisfied with the outcome of monetary policy. and that usually takes most of the morning. >> so when you go into an fomc meeting, the fi

presidents that reserve banks around the country. 19, seven plus 12 are participants. five a of the 12 reserve bank presidents about what one has always been new york fed. >> you have eight meeting how much you have year? we do. generally it starts at noon or the morning of tuesday. we go all day. we generally talk about the economy, the financial stability issues with what other special topics there may be. at the end of the date each person speaks on that and i speak at the end of the day. there's a brief publication on monetary policy we go to dinner and the march in building the next morning we come in at 9:00 a.m. and talk about monetary policy until we are satisfied with p the outcome of monetary policy. that won'tt take most of the morning. >> when you go into a meeting the first day d you pretty much know where you want to come out at thee end of the second day? or do you want to listen to everybody and you have not made up your mind yet? >> the way it works is i talk to the other 18 participants regularly.y. i talked to all

presidents at reserve banks around the country. 19, 7 plus 12, are participants on the fomc. in any given year, all of the seven governors vote and five of the 12 reserve bank presidents vote. one of the voters is always the new york fed. david: when you have a fomc meeting, how many do you have a year? chair powell: we have eight a year. david: when you get together, you get together for two days or so? chair powell: we do. generally, it starts at noon or the morning of a tuesday, and we go all day. we generally talk about the economy, the financial stability issues, whatever special topics there may be. at the end of the day, each person speaks on those things, and i speak at the end of the day. then there is a brief presentation on monetary policy, then we go upstairs to dinner, and the next morning we come back at 9:00 and talk about monetary policy until we are satisfied with the outcome of monetary policy. that usually takes most of the morning. david: ok. so when you go into fomc meeting, the first day, do you pretty much kn

the reserve bank has begun issuing a new national currency.r the next two years, russian gold will become the only means of payment and will displace the american currency from the national currency. systems. today, dollar transactions account for about 80% of all transactions in the zimbabwean financial system, including retail sales. zimbawean gold became the sixth national currency to be launched in the last 15 years. the government abandoned previous money due to hyperinflation, when million-dollar notes were in circulation. this was the economic news, have a nice day and see you on the air.

presidents at reserve banks around the country, all 19, 7 plus 12, our participants on the fomcen year, all of the seven governors vote and five of the 12 vote. david: when you have a meeting, how many do you have a year? chair powell: eight. david: when you get together, you get together for two days or so? chair powell: we do. generally, it starts at noon or the morning of tuesday, and we go all day. we generally talk about the economy, the financial stability issues, ever topics there may be. at the end of the day, each person speaks on those things and i speak at the end of the day. then there is a brief presentation of monetary policy, there we go upstairs to dinner, and then explain we come back at 9:00 and talk about monetary policy until we are satisfied. and that usually takes most of the morning. david: when you go into an fomc meeting, the first day, do you pretty much know where you would like to come out at the end of the second day or do you you listen to everybody and then make up your mind? chair powell: the way it works is, you know, i talked to the other 18 par

the reserve bank of new zealand was the first central bank to kick off a rate hike cycle — even beforees on where policy makers are heading in new zealand, let's bring in market analyst tim waterer. they were in a recession late last year and it was a little bit better at .2% and still teetering on that recession line in terms of inflation, the figures i've gone down to the 4% marks of some progress there but not quite enough and so, they are in a bit of a tight spot and was see them later today and two things are looking for is still focusing on the upside risk and how confident are they that the nontradable inflation figures will be coming down has been a thorn in the side of the inflation figures and they think they'll be moving down and the data suggests otherwise of the moment because of the world today, were looking to see any clues that we could be moving towards later in the year and towards the stage. fire year and towards the stage. are conservative _ year and towards the stage. are conservative government was elected last year, any clues as to where they may want to take thin

saving expedite martin lewis and indian economist rog, around branch on former governor of the reserve bank of india. but there are more of quotes. so how do you avoid falling for these scam? well, unfortunately deep take video and audio is getting more and more convincing. but if you look closely, you can sometimes spot tiny mistakes. in fact, video such as these faces can appear a bit robotic or lifeless blips and particular camera look blurry. this can be an indication of deep face technology when it comes to audio live, so sometimes not completely in 6th, this applies to the slim video probably to know about. so believe that is but also to the mask one, including how much crypto currency has been given away so far and how much is left . now, let's take a closer look for any other mistakes here. there should be an s. after tesla in the title. this type of spelling, this take just wouldn't happen on an official tesla website. in general, you should always be skeptical when coming across articles, post videos on social media with celebrities are endorsing financial products. the in step pr

the reserve bank presidents are different and we play a role from the reserve banks on that. so every summer there is a meeting of the federal reserve people out in jackson hole. what do you all do out there? you ride horses and wear cowboy boots? >> cowboy boots are worn by some, but not all. i don't wear them myself. it's an academic conference so the kansas city fed will pick a topic and then they'll find really top economists to write papers about that topic or more than one topic. you come to jackson hole, they pre present their paper and they critique it and that's the mornings and people go take a hike and let me be clear, it is not a rate hike, it is an actual, physical hike. >> you make a speech there. >> yes. traditionally, i've done this every year, but not every year. i give the opening speech and it doesn't have to have anything to do with the topic and i give a speech. >> is it worked on by the staff and you say something and it sounds interesting and you don't make any news? >> i try to do -- typically, what i do is i try to -- it's focused on the economic outl

the reserve bank has begun issuing a new national currency.babwean gold will become the only means of payment over the next two years and will displace the american currency from the national monetary system. today , dollar transactions account for about 80% of all transactions in the zimbabwean financial system, including retail sales. zimbabwean. gold became the sixth national currency to be launched over the past 15 years. the government abandoned previous money due to hyperinflation when it came into circulation there were bills with denominations in the millions. this was the economic news, have a nice day and see you on the air. the morning broadcast continues with the program zone x and i karina pashkova. hello. i trusted scammers and lost 16 thousand rubles. a resident of minsk became a victim of scammers. she received a call from intruders who introduced themselves as cell phone employees. the call was traditionally via messenger, and the woman was asked to cancel the contract. with a company. the lady provided her interlocutor with h

well, that's according to new consumer survey data released by the federal reserve bank of new york. those surveyed said they expect prices to rise. much more slowly for things like food and gas rent and medical expenses and college costs and gold. than the month before. walmart now facing a class action lawsuit over pricing discrepancies. this after a federal appeals court reverses a lower court decision last week. the lawsuit alleges items prices were 10 to 15%. higher than marked on the shelves. similar pricing discrepancies were reported in stores across 5 other states as a result of the ruling consumers can now try to prove the retail giant violated consumer protection laws. okay, so let's change gears a bit and talk about an important recognition. july is disability pride month, a time to recognize the challenges faced by people with disabilities. and celebrate their achievements. having a physical disability could make it very challenging for someone to express themselves. but despite the odds one north bay woman is creating artwork with a message all without using her hands a

still to come, we will speak to our next guest about india, the reserve bank and the budget. is next for indian bonds. that conversation up next, this is bloomberg. ♪ the future is not just going to happen. you have to make it. and if you want a successful business, all it takes is an idea, and now becomes the future where you grew a dream into a reality. the all new godaddy airo. put your business online in minutes with the power of ai. paul: welcome back, let's look at how we are tracking on indian markets, opening a few seconds ago. risk off territory at the moment. the bank index off by about two thirds of 1%. we are standing by for the budgets of india due within days, not too far away. we will watch for any announcements on infrastructure spending and perhaps cost-of-living measures. we did have data out of india earlier. we sell retail sales rising about 0.75%. passenger vehicle sales slipping to 1.9 million units. we are seeing a little softness in the early going in the market there, and that is reflective of what we are seeing in the market more broadly. the kospi i

i want to start off with the surprise announcement we had from the reserve bank of india yesterday. l not be able to buy freshly issued bonds anymore freely. is this about controlling inflows or something else the bank did not -- something else? the bank did not give us a reason. neeraj: it is surprising. these securities are from the list. it does look like they want to limit -- for the time being. bear in mind the overall universe of the securities is pretty large. as far as the index, i don't think it should have a material impact on it, but it's a decision that's a surprise decision. paul: it was not that long ago with much fanfare we were discussing on this show and everywhere else as well that india was getting included in the jp morgan emerging markets bond index. are there any implications for that? we also haven't heard from j.p. morgan. do you think this will affect india's reputation as a destination for foreign investment? neeraj: i don't think it changes anything. as far as the index is concerned, the full universe was not included. securities were included. personally i

it's also happening in an environment of tighter rules from the reserve bank of india.ions, who are your major investors and where will you be looking to deploy that cash? vineet: on one side, the demand is coming in substantially from the private wealth community. india is a market where per capita spending is increasing. we are seeing a lot of disposable savings finding their way in. india's market which has been predominantly focused on real estate and gold as a better saving for indian households for the longest time. this is still changing as the asset management industry is making significant inroads in bringing awareness and except ability of their products into the market. it's actually limiting the institutional market from participating. that market was frankly only 10% at best of the older market sites. therefore i think those rules are going to have a limited impact on the growth of the market. i think it will grow on the back of private wealth rather than institutional market. paul: please continue. vineet: we think to deploy the midmarket center -- segment

starts to see stable inflation, in fact there is 100 billion rupees allocated, one reason the reserve bankle to cut interest rates is because [indiscernible] fund attempts to reduce and they are trying their best to give visibility on macroeconomic issues and i think that is why in our view the revival in the real estate market is generating investment, we have seen strong announcements from several companies and as the investments start we likely start to see spending going up. if it is only because the market factors most company think about doubling capacity in the next five years. paul: big emphasis on the budget on employment skills building, 24 billion worth of spending here. how effective do you feel the policy will be? have you seen enough detail? >> year on year increase i think is not very substantial but the government has and that is the second part of any budget so the first is that physical limits which frankly in the middle of the year is likely to change a lot. the bigger message for me is in the budget speech which talked about medium-term deal with government and finance

he echoes an earlier op ed by the former new york federal reserve bank president, bill dudley. funds rate using inflation and gdp as inputs and what should the fed funds rate be? and is the federal reserve about to make a big mistake tomorrow by not cutting rate s? joining me with the answer cents creator of the taylor rule, legendary stanford economics professor john taylor. professor, welcome to the show. we've got former federal reserve heads bill dudley and allen blinder saying let's get this rate cut on the road. what does your taylor rule imply about where the fed's benchmark rate should be right now? >> it can come down a bit but not much and you have to be care and feel you do too much and cause replay of the situation we're n. so i think it's good to have this discussion and it's good we're having this discussion but i wouldn't go too far. liz: okay. wouldn't go too far. let's talk about the formula and the inputs and if we put it up, people can see and i was never great in math but i understand r equals nominal fed funds rate, p equals rate of inflation, y equals perce

the brics member states is to increase trade between the countries and establish a development bank and reserve currency against western institutions. iran, a member of the brics group , plays an important role in the economic exchanges of the member countries. and the bank is one of the most important axes among brics members. the islamic council and the new government of iran are fully prepared to cooperate with their partners in all these areas. the five permanent members of this group account for 25% of the world's gdp, which is the largest share compared to rival economic blocs such as the g7. republic. islamic iran has unique capacities and is ready to participate in all three main areas of brics activities, i.e. political, security, economic, financial and social areas. it was 11 months of last year that the full membership of the islamic republic of iran was accepted in the brics group. mohammad ali qayoumi. radio news agency mr. dr. shoaib bahman, an expert on international issues, and dr. ruhollah modbar, an expert on international issues , are with us in the special news interview st

most banks are closed as they observe the federal reserve banking holiday. still ahead, a look at some of america's most patriotic brands. the companies making products celebrating the red, white and celebrating the red, white and blue. ♪ “jack n the box” by ice cube ♪ ♪ and your babies ♪ ♪ see my head is so big they call me ♪ ♪ jack n the box ♪ ♪♪ come on, fool, you know it's true. ♪♪ get a chick-n-tater melt in my new munchie meal. jack: welcome to jack in the box! with four sandwiches to choose from, everyone can build their own munchie meal. or they can just get mine. or they can get exactly what they want. or they can just get mine. or they could just get yours. jack: build your own munchie meal. ice cube: or get mine. jack: welcome to jack in the box! >> for your money this afternoon, 3 retailers cracked the top 10 in a survey of 50 american brands. consumers feel best embody the value of patriotism. jane king is at the nasdaq with this year's list of america's most patriotic grants. >> levi strauss took the 3rd spot in brand keys 23rd annual most patr

so i mean, look, ginger and marcus, there's a report from the federal reserve bank of new york that startedecline in one's credit score and a drop in one's cognitive health. so we'll start there. this eventually brought me to neel shah, the ceo of career health technologies. some of the teams with neel's healthcare platform are actively actually collaborating with large research institutions around the country, discovering ways that data, along with all related technologies which can be used to help develop tools to help with detection and the diagnosis of potentially oncoming age related conditions. interestingly enough, we get a lot of referrals from financial advisors. you know who are the first line of defense against somebody, seeing cognitive decline by changes in spending patterns, changes in investment patterns. you know, we think the financial scores and credit scores, should be part of a multimodal, ai detection to help people with, screening and kind of predicting cognitive decline. and then taking actions accordingly so they don't make mistakes that are disastrous for their fina

what's even greater is hearing the reserve bank presidents come in and talk about their conversations with businesses and business leaders and workers and people in the non-profit sector in the district. the picture is not one of a slowing or a really bad economy. it's one of there are spots of weakness and regions where growth is stronger than other regions, but overall, it's, again, look at the aggregate data and it's particularly pdfp and it's 2.6% and that's a good indicator of a private demand. so we listen to all of that, and it does -- it does -- i think it's important to listen to anecdotal data and not just the aggregate data and it's very hard. gdp data can be volatile quarter to quarter. so it's just hard to measure economic activity and it's just difficult to do. so i look at both, but i would aren't say that the anecdote is uniformly downbeat. it's more mixed. >> thank you. jo ling kent with cbs news, chair powell, thank you for tabit taking our questions today. with a possible rate cut in september on the table it would be two mocks benths before the election and preside

most banks will also be close to as they observe the federal reserve's banking holiday as well. >> thisthe first >> 4th of july that we've been hit by this heat with the triple digits. >> yeah, this is the downside of this extreme heat. some cities especially up in the north bay are canceling their 4th of july. fireworks shows officials in saint alina and healdsburg say they had to make that difficult decision because of the high fire danger. there will still be plenty of other activities, though, for families to enjoy as they celebrate the 4th in saint helene to though, there will be some changes to the times of those activities. take a listen. >> we've shifted stuff quite a bit, that starting at 3.30, we've pushed everything else starting at 6 o'clock. and then we've added some more family fun, friendly activities. and that also include a we have a great team here. we're able to pivot really, really fast. and so we've some that we have some water features to try to help with the coolness. i'm still trying to have a fun environment for everybody, but not but, you know, not have any ris

most banks also be closed as they observe the federal reserve bank in holiday.tend the shelf-life of tomatoes. researchers at uc davis are hoping to extend the freshness of the tomato to help california farmers avoid post-harvest crop loss around 30% harvested fruits and vegetables worldwide are never because of school in or damage. researchers hope they study the tomato at a molecular level to let consumers know the best way to store the pros to avoid food waste. still ahead, the problem morning news lawmakers sacramento valley now over how to put his child traffickers and it is hot out there. >> fox 8 been tracking the forecast on this 4th of july. right back after the break. >> well, new this morning, there's new data revealing some pretty shocking statistics about why the summer months tend to see more mass shootings and other seasons. the gun violence archive says the month of june july, august that the highest total number of mass shootings over the past decade, the 4th of july as the number one day from mass shootings falling for more people. so what's be

most banks will also be closed as they observed the federal reserve banking holiday. members of the alameda county fire department flip some pancakes this morning for their 4th annual 4th of july. pancake breakfast in newark. firefighters say gave them a chance to connect with the community and show off the fire station. they also took the time to share a message of safety as people start celebrating this 4th of july. >> it's really important. warm weather. we have really low humidity in community the vegetation. and we're really concerned about sparks could really cause a major and so being really really be paying attention handling any kind open plains and really making sure that you're looking out. starting a fire that really causes. >> as for the event's, firefighters say at least 1000 people showed up for a and a chicago man is the new champion of nathan's famous hot dog eating contest. patrick deep dish a bird a lead. he won his first men's title at the contest after consuming 58 hot dogs in 10 minutes. he beat out 13 competitors from around the world. the reign

most banks will also be closed as they observe the federal reserve banking holiday. might be looking for an independence day deal and hear some chains offering discounts for july 4th. buffalo wild wings is celebrating with 2 deals. first is their regular buy one get one free deal available on thursday. they're also offering 6 free wings with a purchase of 10 bucks or more. just use code goings checkout. you can get a deal. krispy kreme as well. if you dress to impress anyone who comes in wearing red, white and blue can get a free original glazed doughnut. how about that? who doesn't love free stuff? 3 retailers crack the top 10 did a survey of 50 american brands. consumers feel best embody the value of patriotism. jane king is at the nasdaq with this year's list of america's most patriotic france. levi strauss took the 3rd spot in brand keys 23rd annual most patriotic brands survey. >> well, mark came in 6th and amazon was 10th jeep again ranked number one with ford, coca-cola, disney harley davidson and jack daniels. also ranking in the top 10. now jeep brand retain

abc seven news spoke with a contractor who says he was supposed to work at the federal reserve bank across street, but was told not to go into work today because of the outage. >> now it's your voice, your vote. president joe biden reportedly becoming more open to the idea of dropping out of the race. this comes as another high profile democrat urges biden to pass the torch. abc news reporter andrew dymburt has more on this critical point in his reelection bid this morning, president biden isolating at his beach house, recovering from covid as another top democrat calls for him to exit the race overnight. >> montana senator jon tester, facing a tough reelection fight, adding to the chorus of voices now up to at least 23 congressional democrats encouraging the president to bow out, sources now telling abc news the president has grown more receptive to hearing out calls for him to end his candidacy. >> there's been a clear change. the president, i am told by multiple people close to him, is listening to the arguments of democrats who say that he cannot win and that he should get out of the r

what's even greater is hearing the reserve bank presidents come in and talk about their conversations with businesses, business leaders and workers and people in the private sector in their districts. but i'll tell you, it's a pretty, you know, the picture is not one of a slowing or, you know, a really bad economy. it's one of there are spots of weakness, and there are regions where growth is stronger than other regions. but overall, again, look at the aggregate day da. ago are regate data, particularly pdfp is 2.6%, and that's a good indicator of private, of private demand. so we listen to the all of that. and it does -- i hi it's important to to listen to anecdotal and not just look at the aggregate data. especially it's very hard -- gdp if data can be volatile quarter to quarter. so it's just hard to measure economic activity. there are a loft -- it's just difficult to do. so i look at both. but i wouldn't9 say that the anecdotal is uniformly downbeat. it's more mixed. >> [inaudible] >> reporter: thank you. jo ling kent with cbs news. chair powell, thanks for for taking our questio

for example, the development bank or the reserve fund that was created in brics, well, these are completely parallel institutions to the world bank or the international monetary fund. well, we know that in the past years, if you tell us briefly, that we want to have travel answers, the view of the western countries that created these institutions was a political view, and based on the political view, they actually behaved with other countries , but now in brics, this is the political view is being abandoned and a completely different view it is happening in different countries. mr. modbar , please be brief. mr. dr. safari pointed out that this meeting and the meeting of dr. ghalibav were very fruitful. the meeting with mr. putin and with mrs. metvenko, the head of the federation council, and mr. valodin, the head of the state duma of russia. the very important issue of deepening the relations between tehran and moscow in the current situation and in the 14th government was taken into consideration, just as the president-elect of the islamic republic of iran , mr. dr. medzikian , emphasized

the head of the central bank of the increase in land reserves and. the gold of the country announced. mr. farzin said that one of the important strategies of the central bank is to increase the country's foreign exchange and gold reserves, and he said that the allocation and supply of foreign currency for the production of saudi arabia has been made every year. the head of central bank added that by setting up the iranian currency and gold exchange center to create balance

the biggest question that investors demand answers for is uncertainty around the federal reserve, the us central bank they will begin cutting us interest rates. speaking of that, what do you think will happen, or the pace that the fed might act? the lace is that the fed might act? the place is going _ that the fed might act? the place is going to _ that the fed might act? the place is going to be - that the fed might act? tue: place is going to be slow. that the fed might act? tte: place is going to be slow. i think that september is likely, but we can't rule out that it might be pushed back towards christmas, which would mean december. generally speaking we are expecting the central bank to start this journey to cut interest rates first and pull the trigger. we have seen the likes of this was national bank, de european central bank, and were expecting to see the bank of england cut interest rates in the coming months. when it comes to the us economy, growth is slowing, but it is still performing reasonably well compared to its developed peers. at the same point, looking at corporate earnings, and lo

the biggest question that investors demand answers for is uncertainty around the federal reserve, the us central bankwhen they will finally begin cutting us interest rates. so, speaking of that, what do you think will happen, or the pace at which the fed might act? the place is going to be slow. i think that september is likely, but we can't rule it present, which would mean december. generally speaking, we were expecting the fed — again, the us central bank — to start thisjourney to cut interest rates first and pull the trigger. but, in fact, we have seen the likes of the swiss national bank, the european central bank, and are expecting to see the bank of england cut interest rates in the coming months. when it comes to the us economy, yes, growth is slowing but it is still performing reasonably well compared to its developed peers. at the same point, looking at corporate earnings and looking at the trajectory of inflation — now, inflation has dropped by nearly — from 9% two years ago towards 3%. it is like being on a diet. it has lost a lot of weight but now, we're seeing a plateau and we're starti

. >> picture of the federal reserve appeared before the banking, housing and urban development committeery policy report to congress. jerome powell stressed more positive economic and inflation data were needed before interest rates could be cut,

we have reached a record value, moved from sixth to fifth place in terms of gold reserves, well, until the central bankis, we will accumulate reserves in conditions of volatility. world currencies, and before everyone invested mainly in the dollar, in the euro, yes, confidence in them is declining, gold as an investment product, well, at all times it was like that, well, like an island for saving your savings if you decide to invest in russian gold miners , first of all you have what to choose from, if you are a beginner, a private investor, looking for... this means the first refuge for your money, in order to invest somehow in an understandable business, then gold miners look great, even now geopolitics is nothing can do about it, russian gold is bought all over the world. he doesn’t need a pen, who has fire in his pocket, uh, what started, fire, i can’t live without traveling, soon, i got used to watching videos on the network, it stopped working, we install, we open, we watch, all russian channels tv series, movies and cartoons, educational programs and documentaries. let's see. we look in the appl

the governor of the central bank announced the increase in the country's gold reserves. mr. farzin called one of the important strategies of the central bank to increase the land and gold reserves of the country and said allocation and provision of width for production has increased every year . the head of the central bank added that with the launch of the center. the exchange of gold and gold of iran is provided to balance economic enterprises, the supply of basic goods at the rate of 28,500 tomans and the supply of other goods at a variable and floating rate. farzin said that with the establishment of the exchange center and more control over the currency market, the allocation and control of the currency price has improved . the spokesperson of the ministry of education said that the aid is overdue in april, may and june. right now , i can tell you that we are up-to-date with the additional teaching fee or the teaching fee of dear teachers, that is, now that we paid the salaries of june, in addition to the teaching of may, with the salaries paid, while there was a time wh

let’s not delay, tonight, my beautiful inga, you will transfer 20 million euros from a reserve offshore banksuch an amount requires approvals. you don’t see me in a trap, if the bank kept depositors’ money in russia, then approval would be needed, yes, and since you hid them in a cheap offshore, the transfer will take exactly 36 seconds, i don’t know anything about the cyprus bank, shut up and don’t annoy me, or maybe you don’t want to ask your bosses awkward questions, here’s your accountant, he knows the rights of the account, yes , well, of course, confirmation... the vice president of the bank needs to do it himself, that is, you, having put your pen to the fingerprint scanner in your own terminal of the central office, are ready, i think she will like it, okay, how much is 500 rubles. i hope, thank you, goodbye. nothing is it will work out, this is why, there is no access to the bank, and the security simply won’t let you in, the transfer system terminal is disabled on the weekend, in order to turn on the system, you need access codes and keys, keys to the terminal, which only the head

the central bank explained this by some increase in expenses and reserves. time, in conditions of attractive deposit rates, household funds in banks increased by trillion 300 billion. although in may there is usually a decrease due to expenses for vacations and holidays. if you look from the beginning of the year, the increase was 4 trillion, almost four times more than for the same period in 2023. growth forecast for the entire current year by the central bank. still very wages are growing significantly, they allow you to save money in deposit accounts and also spend. despite the tight monetary policy, mortgages showed growth in may. the portfolio increased by 1.7% and exceeded rub 19 trillion. the main drivers were programs with government support. the issuance of preferential mortgages increased by 20%, and for family ones - 24%. borrowers sought to take out loans before the conditions changed; starting from july , families with children under 6 years old can receive the previous preferential rate of 6%, but now, regardless of the age of the children, it w

the governor general of the central bank announced the increase in the country's foreign exchange and gold reserves. mr. farzin said that one of the important strategies of the central bank is to increase the country's horizontal and gold reserves and said that the allocation and provision of foreign currency for the production of saudi arabia every year has been made. . the governor of central bank added that with the establishment of iran's currency and gold exchange center, in order to balance economic enterprises , basic goods have been provided at the rate of 28,500 tomans and other goods at variable and floating rates. fazin said that with the opening of the exchange center and more control over wider market, we were able to allocate currency and control the price of currency. tavanir company announced that the amount of electricity consumption exceeded 70,000 megawatts and reached 7029. based on these statistics, the amount of demand for electricity consumption in iran has doubled to 8% compared to the normal state, and has caused consumption management to be seriously placed on the agenda o

reserve meeting. the us central bank is not expected to cut interest rates at he august meeting, but investors will be for clues as to how likely the fed is to make a move at its september meeting. the paris olympics have begun — this is the first time in a century that the french capital is hosting the summer games. for companies, an olympic sponsorship deal is considered one of the biggest. in recent years, more asian firms, especially from china have put big money behind the games. some of this year's top sponsors are alibaba and chinese dairy company mengniu along with samsung and toyota. michael payne from payne sports media strategies has negotiated olympics sponsorship agreements. he explained why chinese brands in particular are spending big to advertise at the games. i think probably some of the most interesting insights are coming from these companies, in particular alibaba, which is introducing the ai technology, these are the first olympics where we have seen ai integrated into the operations, integrated into the broadcasting, integrated with the whole experience. we are seeing new thinkin