- The government raised its growth forecast for the fiscal year 2024 to 7.6% from 7.3%.
- India's GDP expanded at 8.4% in the final three months of 2023, the strongest in 18 months, boosted by robust manufacturing and construction activities.
- US ADP private sector employment rose 140K in February from 111K in January, below the market expectation of 150K.
- January JOLTS job openings dropped to 8.863M versus 9.026M prior, below the consensus of 8.900M.
- The Federal Reserve (Fed) Chair Jerome Powell said on Wednesday that interest rate cuts are likely at some point in 2024, but is not yet ready to say when.
- Powell noted that the central bank thinks it’s not appropriate to cut the rate until they have confidence that inflation is moving sustainably toward 2%.
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