The World in Brief from The Economist

Russia’s central bank surprised markets by keeping its key interest rate at 21%

America’s House of Representatives voted to reject a Trump-backed spending deal that would avert a government shutdown. Also, Two marquee names in American business were hit by strikes in the run-up to Christmas.

Republicans in America’s House of Representatives reached a new spending deal that would avert a government shutdown.

Ukraine’s president, Volodymyr Zelensky, said that security guarantees from Europe “won’t be sufficient” to protect his country from Russia, and emphasized the importance of also having American support and NATO membership.

Global stockmarkets fell after America’s Federal Reserve signalled fewer interest-rate cuts in 2025 than previously expected. Also, Ahmed al-Sharaa, Syria’s new de facto leader, urged Western countries to lift sanctions on his country, claiming that it is no longer a threat to the world.

The Dow Jones Industrial Average, an American stock index, fell by over 1,100 points, after the Federal Reserve cut interest rates but signalled fewer reductions next year.

Bezalel Smotrich, Israel’s hard-right finance minister, criticized a proposed ceasefire deal that is reportedly close to being agreed with Hamas.

Ukraine claimed responsibility for the explosion in Moscow that killed General Igor Kirillov, the head of Russia’s nuclear-protection forces.