Overseas Headlines- January 13, 2020

United States:

Trump’s Impeachment Trial Gives Upper Hand to McConnell, GOP

Democrats set the rules for their impeachment of Donald Trump, but once House Speaker Nancy Pelosi kicks the process over to the Senate for a trial the advantage and leverage will be with the president and Republicans. Three years of political and legal drama, investigations and stand-offs will reach a more intensive stage this week when Pelosi names the House managers, who’ll serve as the prosecutors in the Senate proceedings, and transmits the two articles of impeachment.




U.K. House-Price Gains Explained By Low Interest Rates Alone

The rapid gains in U.K. house prices can be explained entirely by the drop in risk-free interest rates, Bank of England research shows. A paper by David Miles, a former rate-setter at the bank, and Victoria Monro concludes that other, often-cited reasons for real home values almost quadrupling over the past four decades — low housing supply, financial deregulation or bubble-like behavior — play little to no role. The risk-free rate is the inflation-adjusted yield on loans that are guaranteed to be repaid, such as government bonds.




India’s Inflation at 7.35% Exceeds All Estimates as Food Surges

“India’s headline inflation surged to a more than five-year high in December, breaching the central bank’s 6% tolerance limit and will likely keep monetary policy makers in pause mode for longer. Consumer prices rose 7.35% in December from a year earlier, the Statistics Ministry said in a statement on Monday. That’s faster than the 6.7% median estimate in a Bloomberg survey of 37 economists and the steepest gain since July 2014.”


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