The Bank of Russia unexpectedly maintained its key interest rate at a record-high 21% , defying analysts’ expectations of another significant hike as inflation remains stubbornly elevated. The decision marks a shift toward a more measured approach in balancing economic growth and price stability. Key Details Inflation Concerns: Annual inflation climbed to 8.9% in November, well above the central bank’s 4% target , with inflation expectations reaching 13.9% in December. Policy Rationale: The central bank cited the significant tightening of monetary conditions after October’s 200-basis point hike as sufficient to resume disinflationary processes. Governor Elvira Nabiullina emphasized avoiding both economic overheating and severe slowdowns. Economic Overheating: Elevated government spending on the war in Ukraine and social programs, coupled with labor shortages and rising wages, have fueled strong domestic demand, exacerbating price pressures...
Taylor Farms, a McDonald’s Corp supplier, is recalling batches of yellow onions produced at its Colorado facility due to a deadly E. coli outbreak. While no traces of E. coli have been found yet, the company decided to recall the products as a precautionary measure.
Taylor Farms supplied onions to McDonald’s restaurants that are part of an ongoing multistate health investigation. The recall affects major food distributors, including US Foods Holding Corp and Sysco Corp, which have contacted their customers about the potential contamination. Sysco confirmed that six of its 330 distribution centers were impacted.
McDonald’s is investigating the source of the outbreak, which has led to dozens of illnesses, one death, and 10 hospitalizations across 10 states. The company suspects slivered raw onions used in its Quarter Pounder burgers as the likely source but has not ruled out beef as a possible cause. As a result, McDonald’s has pulled Quarter Pounders from 20% of its US restaurants to contain the outbreak.
The CDC and FDA are still investigating, with concerns that the number of illnesses could increase.
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