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“Geopolitical uncertainties also remain pronounced. These developments are expected to have an adverse effect on global economic activity, particularly if households and firms delay expenditure pending greater clarity on the outlook,” she added.The bank adjusts interest rates to steer inflation toward a target band of between 2% and 3%.

During the March quarter, annual inflation was 2.4%. The trimmed mean –- a gauge of underlying inflation which is the bank’s preferred measure –- was 2.9%.Inflation was also steady at 2.4% in the previous three months. But the underlying figure, which strips out the smallest and largest values, was 3.2% in the last quarter of 2024.Inflation has gradually declined after it peaked at 7.8% in the last quarter of 2022.

Unemployment inched up to 4.1% in January-March from 4.0% in the December quarter but remains relatively low. Economists fear a shortage of workers could fuel further inflation.Confusion over President Donald Trump’s tariffs remains following a weekend of questions around trade in consumer electronics.

On Friday the Trump administration paused its new taxes on electronics imported into the U.S. — signaling some relief from trade wars that have particularly escalated with China, a major exporter of technology from smartphones to laptops. But these goods remain subject to other levies.

And officials have also indicated that additional, sector-specific tariffs targeting electronics are on the way — all of which economists warn will raise costs and lead to higher prices for consumers.The three-car Andretti team, though? Few had even uttered their names before Kirkwood’s bold prediction ahead of Fast Friday, the day teams get a 100 horsepower boost to prepare for this weekend’s two-day qualifying session.

Guess people just weren’t paying attention. Kirkwood is, after all, the only driver this season so far to beat Palou with his April victory on the downtown streets of Long Beach, California.“I think they look very strong both speed-wise and traffic running,” said Arrow McLaren driver Pato O’Ward, who then cautioned “don’t count out the Penskes. They’re going to have rockets just like they did last year.”

Newgarden beat O’Ward on the final lap last year to win his second consecutive Indy 500, and Penske drivers Scott McLaughlin, Will Power and Newgarden swept the front row in qualifying last season.There are 34 drivers going for the 33 spots in the field in Saturday and Sunday qualifying, meaning one car will fail to make the “The Greatest Spectacle in Racing.” Among them is NASCAR star Kyle Larson, who for the second year will attempt “The Double” and try to complete 1,100-miles between the Indy 500 and the Coca-Cola 600 in North Carolina.