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Second-quarter annual growth came in at 2.9%, central bank data showed. The economy is facing downside risks stemming from weaker-than-expected global growth, and a deeper or longer-than-expected technology downcycle," Governor Abdul Rasheed Ghaffour told a news conference. While he does not expect a worldwide recession, the governor said global growth will be below the long-term average. Malaysian consumers are also likely to be cautious in their spending going forward, leading to slower economic growth in the second half, he said. On Friday, the central bank said while cost pressures have eased, headline and core inflation will moderate further in the second half partly due to a higher comparative base last year.
Persons: Abdul Rasheed Ghaffour, El Nino, Abdul Rasheed, Mohd Afzanizam Abdul Rashid, Mohd Afzanizam, Alex Holmes, Holmes, BNM, Mei Mei Chu, Martin Petty, Jacqueline Wong Organizations: China, Reuters, Bank Negara, Bank Muamalat, Oxford Economics, U.S, Thomson Locations: KUALA LUMPUR, Bank, Bank Negara Malaysia, Malaysia, Bank Muamalat Malaysia
SINGAPORE, April 14 (Reuters) - Singapore's central bank on Friday left its monetary policy settings unchanged, reflecting the city-state's concerns about its growth outlook and surprising economists who had expected another round of tightening. It was the first time the Monetary Authority of Singapore (MAS) has left policy unchanged since April 2021. MAS had from October 2021 tightened monetary policy five times in a row, including in two off-cycle tightening moves last year in January and July. The MAS said in a statement that its previous tightening moves were "still working through the economy and should dampen inflation further". Alex Holmes, senior economist at Oxford Economics, said he does not expect any unwinding of recent tightening moves until late 2024.
8-year-old Ridvan Cakiroglu rescued by Israeli search and rescue team from rubble of collapsed building 116 hours after earthquakes, on February 10, 2023 in Turkey's Kahramanmaras. As the human death toll topped 28,000, the desperation mounted with each hour that passed for those who hoped to find their relatives alive in the rubble days after two earthquakes devastated Turkey and Syria. While local media reported more people had been pulled from the rubble Saturday, Martin Griffiths, the U.N. emergency relief coordinator, warned that the death toll was likely to rise. The first of Monday's devastating quakes struck Turkey and neighboring Syria in the early hours and registered at magnitude- 7.8. More than 3,500 have died in Syria, where death tolls have not been updated since Friday.
The number of female viewers was up 34% and averaged 28% of the audience, while significantly younger fans were also watching. "I have kids of college age and they have friends and those friends have watch parties on Sunday mornings. It’s not what I was doing in college, it really wasn’t there," MoneyGram's marketing head Greg Hall told Reuters. Holmes said MoneyGram's global business made Formula One a good fit to reach a younger, digitally-aware consumer demographic. "For us to push the brand as faster, more interesting, cooler... the association with Formula One makes a huge difference."
Twitter on Monday disbanded its Trust and Safety Council, a group of volunteers who offered the company outside expert advice about online safety, according to an email seen by NBC News. "As part of this process, we have decided that the Trust and Safety Council is not the best structure to do this." Holmes added, "Over past week several members of council have had their personal safety and well-being impacted by the actions of Twitter staff." Some members of the council recently sparked an argument over the company's handling of child sexual exploitation material. Jack Dorsey, the former CEO of Twitter, responded: "this is false."
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