1 Russia cuts rates as crisis eases (BBC) Russia's
central bank has cut its key interest rate by one percentage point to 14%, as
concerns over inflation recede as Russia's economy falters. The move, which was
widely expected, comes as the rouble stabilises following its radical 46%
decline in 2014.
That drop prompted the bank to increase rates up to
17% in an effort to halt the plunge. The rate rise strengthened the rouble
against the dollar. In January, Russia's central bank surprisingly cut rates
from 17% to 15%.
Interest rates were increased last year to encourage
saving rather than spending after the currency's plummeting value prompted some
Russians to snap up foreign goods in case its value fell still further. Russia's
economy has been hit hard by the declining oil price as well as the impact of
Western sanctions of its involvement in Ukraine.
2 ‘Not easy for China to grow at 7%’ (Straits Times)
It won't be easy for China to grow its economy by around 7 per cent this year
as targeted by the government, Chinese Premier Li Keqiang has said. But the
authorities will do what they can to ensure growth stays within a reasonable
range.
Mr Li said the government will loosen policies, if
needed, in a targeted manner to prevent the economy from slowing too much, or
avoid a sharp decline in employment. He also said that China faces financial
dangers as its economy cools, but the authorities can prevent systemic risks.
3 Why children need chores (Jennifer Breheny Wallace
in The Wall Street Journal) Today’s demands for measurable childhood success have
chased household chores from the to-do lists of many young people. In a survey
of 1,001 US adults by Braun Research, 82% reported having regular chores
growing up, but only 28% said that they require their own children to do them.
“Parents today want their kids spending time on
things that can bring them success, but ironically, we’ve stopped doing one
thing that’s actually been a proven predictor of success—and that’s household
chores,” says Richard Rende, a developmental psychologist. Decades of studies
show the benefits of chores—academically, emotionally and even professionally.
Giving children household chores at an early age
helps to build a lasting sense of mastery, responsibility and self-reliance,
according to research by Marty Rossmann, professor emeritus at the University
of Minnesota. She found that young adults who began chores at ages 3 and 4 were
more likely to have good relationships with family and friends, to achieve
academic and early career success and to be self-sufficient, as compared with
those who didn’t have chores or who started them as teens.
Chores also teach children how to be empathetic and
responsive to others’ needs, notes psychologist Richard Weissbourd of the
Harvard Graduate School of Education. The next time that your child asks to
skip chores to do homework, resist the urge to let him or her off the hook,
says psychologist Madeline Levine. Being slack about chores when they compete
with school sends your child the message that grades and achievement are more
important than caring about others.
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