The European Central Bank announced that it will leave the benchmark lending rate unchanged at 1 percent. It is also expected that the ECB will maintain its liquidity operations first implemented in May which to date, has resulted in the purchase of 67 billion euros (US$88 billion) in government securities.
During the second quarter of the year, India’s economy grew by 8.8 percent over the same time period last year. This is the best single-quarter result in over two years for the world’s second-fastest growing economy. An increase in manufacturing and mining helped propel the economy with gains of 12 and 9 percent respectively.
The other area of growth that has potential to carry the economy for years to come is domestic sales. A growing consumer class, aided by an increase in employment particularly in well-paying high-tech jobs, has resulted in an increase in disposable income for a growing number of workers.
Source: BBC News