India’s central bank governor cheers ‘goldilocks’ economy
FT News Briefing
Forhecz Topher
4.4 • 1.2K Ratings
🗓️ 18 December 2025
⏱️ 12 minutes
🧾️ Download transcript
Summary
BP chief executive Murray Auchincloss has said he will step down after less than two years in the role, India’s central bank governor expects the country’s interest rates to remain low for a ‘long period’, and UK inflation fell more than expected to an eight-month low of 3.2 per cent. Plus, global companies are seeking private equity partners in China to take on their local operations as they grapple with an increasingly competitive local market.
Mentioned in this podcast:
BP picks Woodside boss Meg O’Neill as new chief executive
India’s central bank governor signals rates to stay low for ‘long period’
UK inflation falls more than expected to 3.2% in November
Global brands seek private equity partners to save their China businesses
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Today’s FT News Briefing was hosted and edited by Marc Filippino, and produced by Fiona Symon, Victoria Craig and Sonja Hutson. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann. The FT’s acting co-head of audio is Topher Forhecz. The show’s theme music is by Metaphor Music.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. |
| 0:04.0 | Today is Thursday, December 18th, and this is your FTE&E's briefing. |
| 0:08.0 | BP is replacing its CEO, and India's central bank governor is cheering his country's Goldilocks moment. |
| 0:16.0 | Plus, companies doing business in China are looking to private equity for a helping hand. |
| 0:22.3 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:34.1 | BP's chief executive Murray Aukin-Klaw said late last night he's stepping down immediately. |
| 0:39.4 | The head of Woodside Energy, Meg O'Neill, will join as CEO in April. |
| 0:44.2 | BP's head of trading, Carol Howe, will take over in the interim. |
| 0:48.2 | O'Neill started as Woodside CEO in 2021, before that she was an executive at ExxonMobil. |
| 0:57.7 | This is yet another big change at BP this year. |
| 1:04.1 | An April activist investor, Elliott Management, upped its stake in the oil major to 5%. The American hedge fund pressured the company to cut costs. BP also continued to pivot away from its ambitious energy |
| 1:09.7 | transition and back to oil and gas. |
| 1:13.0 | Ockin-Klaus is stepping down from his CEO post less than two years into the role. He said he'll |
| 1:17.8 | stay on in an advisory capacity until the end of next year. A balanced economy is the dream of every central bank governor. |
| 1:31.2 | The head of the Reserve Bank of India says during his first year, he's achieved it. |
| 1:36.0 | Sanjay Mulhortra spoke to the F.T's Mumbai bureau chief Chris Kay recently. |
| 1:40.3 | It was his first interview with an international news organization since he was appointed to the job a year ago. |
| 1:46.3 | Chris joins me now to talk about the conversation. Hey, Chris. |
| 1:49.0 | Hello. |
| 1:49.8 | So Governor Malhotra has called this a Goldilocks economy, Chris. Why is he saying that? |
| 1:55.0 | Yeah, so essentially he's been on the job for the past year and in that time inflation has fallen quite sharply |
| 2:03.8 | and is basically close to zero while at the same time economic growth remains strong it came in |
... |
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