Daily Current Affairs – 17 March 2026

S.NoCategoryCurrent AffairsKey Points
1InternationalUS Federal Reserve PolicyUS Fed likely to hold interest rates steady amid rising oil prices and weak job data.
2InternationalGlobal Energy CrisisOil prices surged above $100/barrel due to tensions in the Strait of Hormuz affecting global economy.
3InternationalNorth Korea AssemblyNorth Korea to hold Supreme People’s Assembly (March 22) to amend constitution and discuss nuclear policy.
4InternationalKorea RelationsPossible move to declare South Korea as hostile state, impacting diplomacy.
5EconomyAustralia Interest RateReserve Bank of Australia increased cash rate to 4.1% due to inflation.
6EconomyInflation & Fuel CrisisGlobal fuel shortages linked to Middle East tensions affecting multiple economies.
7EconomyIndia LPG ConcernIndia facing LPG supply concerns due to dependence on Strait of Hormuz imports.
8Polity (Global)Australia–New Zealand PactNew defense agreement (ANZAC 2035) signed to strengthen regional security.
9EnvironmentVaccine Expansion (Australia)Japanese encephalitis vaccine access expanded in Australia.
10Disaster AlertCyclone WarningCyclone watch issued in Far North Queensland.
11EconomyJob Market (USA)US unemployment rose to 4.4%, showing economic slowdown signals.
12GovernanceEssential Commodities (India)Govt invoked Essential Commodities Act to manage LPG crisis.
13International RelationsMiddle East CrisisIran-related tensions disrupting global oil supply routes.
14DefenceNuclear Expansion (North Korea)Focus on expanding missile and nuclear capabilities in new 5-year plan.
15EconomyCost of Living CrisisRising fuel and inflation pressures impacting global households.

MCQ’s

S.NoQuestionOptionsAnswer
1US Federal Reserve is expected to do what with interest rates in March 2026?A) Increase B) Decrease C) Hold steady D) Remove ratesC
2Global oil prices crossed which mark recently?A) $80 B) $90 C) $100 D) $120C
3Rising oil prices are mainly due to tensions in which region?A) South China Sea B) Strait of Hormuz C) Red Sea D) Arctic OceanB
4North Korea will convene its Supreme People’s Assembly on which date?A) March 18 B) March 20 C) March 22 D) March 25C
5North Korea is planning to amend its:A) Budget B) Constitution C) Trade Policy D) Education SystemB
6Which country’s central bank raised the cash rate to 4.1%?A) USA B) UK C) Australia D) CanadaC
7India is facing supply concerns related to which fuel?A) Petrol B) Diesel C) LPG D) CoalC
8India invoked which Act to manage LPG supply issues?A) Disaster Management Act B) Essential Commodities Act C) RBI Act D) Companies ActB
9Australia and New Zealand signed which defence pact?A) AUKUS B) ANZAC 2035 C) QUAD D) Five EyesB
10Which disease vaccine access has been expanded in Australia?A) Malaria B) Dengue C) Japanese Encephalitis D) COVID-19C
11Cyclone warning has been issued in which region?A) Western Australia B) South Australia C) Far North Queensland D) TasmaniaC
12US unemployment rate rose to approximately:A) 3.5% B) 4.0% C) 4.4% D) 5.2%C
13Which country is linked to current Middle East tensions affecting oil supply?A) Iraq B) Iran C) Israel D) SyriaB
14North Korea’s new plan focuses on expanding:A) Agriculture B) Tourism C) Nuclear & Missile capabilities D) IT sectorC
15Rising fuel prices globally are leading to:A) Deflation B) Cost of living crisis C) Trade surplus D) Lower taxesB
16Strait of Hormuz is important because it is a major route for:A) Coal transport B) Oil shipments C) Food exports D) Gold tradeB
17Which country is highly dependent on Strait of Hormuz for LPG imports?A) China B) India C) Japan D) GermanyB
18The global fuel shortage is primarily impacting:A) Space industry B) Agriculture only C) Multiple economies D) Education sectorC
19The Supreme People’s Assembly belongs to which country?A) China B) South Korea C) North Korea D) JapanC
20Inflation increase is mainly linked with rise in:A) Gold prices B) Fuel prices C) IT exports D) TourismB

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