MONTHLY MONETARY SUPPORT
US Fed hopeful of achieving 2 per cent inflation target soon
The U.S. Federal Reserve noted a lack of significant progress towards its 2 percent inflation target in its latest meeting. Despite this, there have been modest improvements in recent months. This conclusion was shared in the Fed policy minutes released on Wednesday.
Indian economy poised for potentially stable high growth phase, says RBI's monetary policy panel member
RBI's monetary policy committee member Shashanka Bhide highlighted India's potential for stable high growth amidst significant risks, citing strong domestic demand, investment spending, and positive monsoon forecasts. He emphasised the importance of maintaining inflation aligned with targets to support growth, with the RBI projecting retail inflation at 4.5% for FY25. The MPC recently kept the repo rate unchanged at 6.5%, focusing on sustaining economic momentum.
US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
India central bank policymakers divided over rate-growth debate
Internal members maintain hawkish stance on inflation, with Governor Das cautioning against hasty actions for fear of worsening the situation
RBI needs to shift focus from inflation management to growth promotion: MPC member Varma
With retail inflation nearing the Reserve Bank of India's (RBI) 4% target, RBI Monetary Policy Committee (MPC) member Jayanth R. Varma emphasized a shift towards promoting growth. He noted that core inflation is benign and projected CPI inflation for 2024-25 is only 0.5 percentage points above target. Varma advocated for a less restrictive monetary policy to balance disinflation and support economic growth, which is expected to be slightly lower in the coming years.
Charting the global economy: BOE leaves rate-cut hopes alive
The Bank of England hinted at possible interest-rate cuts as some officials are leaning towards it, despite keeping rates steady at 5.25%.
- Go To Page 1
China's yuan slips to fresh 7-month lows as outflows mount
China's yuan dips to a fresh seven-month low against the dollar due to portfolio outflows and speculation about the central bank's actions.
US manufacturing production surges 0.9% in May; beats monthly expectations
In May, production at U.S. factories rebounded more than anticipated, recovering from declines in the previous two months. However, sustained momentum is unlikely due to rising interest rates and weakening demand for goods. According to the Federal Reserve's report on Tuesday, manufacturing output surged by 0.9% last month, following a downward revision showing a 0.4% decline in April.
China's central bank leaves key policy rate unchanged as expected
China's central bank kept the medium-term lending facility (MLF) rate unchanged at 2.50%, aligning with market expectations. The decision reflects concerns over narrowing bank profit margins and a weakening yuan. The unchanged MLF rate, which influences loan prime rates, indicates limited room for easing monetary policy amidst internal and external economic pressures.
Is Fed FOMC outcome hawkish or dovish? Here's is what Street says
The US Federal Reserve maintained rates at 5.25-5.50% in its June monetary policy, with Chair Jerome Powell expressing caution about the inflation outlook and the need for data revision. Experts weigh in on the decision.
Asian stocks build on Wall St records after US inflation data
Asian traders extended a rally across world markets Thursday as they welcomed figures showing US inflation slowed further last month, tempering concerns about the Federal Reserve's forecast of just one interest rate cut this year. However, the Fed later in the day released its keenly awaited "dot plot" outlook for interest rates, which showed that decision-makers saw just one cut this year -- down from three predicted in its previous guidance in March.
Assam government introduces monthly monetary support for girl students to combat child marriage
The scheme aims to increase the Gross Enrolment Ratio beyond matriculation, disburse benefits via DBT, and provide financial grants under the Anundoram Borooah Scheme for students scoring over 75% marks.
As Modi 3.0 begins, where the economy stands, where it's headed
Narendra Modi is set to begin his third term as PM with a full-strength NDA team, amidst optimism for India's economic future. RBI Governor Shantikanta Das highlighted the country's robust economic growth, strong manufacturing sector, recovering rural demand, and promising investment activity. India's external sector remains resilient, with positive growth prospects ahead.
Another vote surprise! Dissent grows in RBI that has more 'elbow room'
RBI Monetary Policy: The Reserve Bank of India maintained key lending rates unchanged for an eighth consecutive time with a larger split in votes. Governor Shaktikanta Das emphasised the need for price stability in the growing economy. The unexpected vote split indicates a potential shift towards a rate cut in future policies, though 'greater elbow room' for price stability may not demand an immediate cut. The RBI's stance aligns with market expectations, with a focus on balancing inflation and growth. Despite robust economic growth, inflation remains a concern.
BlackRock stays bullish on Indian bonds after narrow Modi win
Neeraj Seth, chief investment officer at BlackRock, predicts that India's fiscal consolidation under Modi's leadership will continue. Cooling inflation may lead the Reserve Bank of India to ease later this year, supporting the preference for longer duration bonds like the seven and 10 year ones.
China's manufacturing surges, Caixin PMI shows, but global risks grow
To counter soft domestic demand and a years-long property crisis, China has boosted infrastructure investment and ploughed funds into high-tech manufacturing to bolster the broader economy this year.
China's factory activity growth hits 2-year high, Caixin PMI shows
The Caixin/S&P Global manufacturing PMI rose to 51.7 in May from 51.4 the previous month, marking the fastest pace since June 2022 and beating analysts' forecasts of 51.5. The 50-point mark separates growth from contraction.
Charting the global economy: Europe inflation picks up before ECB meeting
Inflation in Europe rose more than expected in May, with consumer prices up 2.6% from last year, surpassing April's 2.4%.
Sterling hits fresh 2-month high versus dollar ahead of inflation data
German inflation figures will be released on Wednesday and the wider euro zone's reading on Friday, along with the U.S. core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation.
IMF, Pakistan make significant progress on new loan, IMF mission says
The IMF has opened discussions with Pakistan on a new loan programme after Islamabad last month completed a short-term $3 billion programme, which helped stave off a sovereign debt default.
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
Ukraine's allies are debating how to use frozen Russian assets to support Kyiv's war effort amid Russia's territorial gains. The issue of $260 billion in Russian assets frozen abroad is a key concern at the G7 meeting in Italy.
GDP likely expanded 6.8% in Q4; FY24 print may hit 7.8%
The strong March quarter print could lift overall gross domestic product (GDP) growth for the full fiscal year to 7.8% against 7.6% assessed in the government's first advance estimates released in February. The International Monetary Fund (IMF) has also forecast 7.8% growth for FY24. The government will release fourth-quarter growth numbers and provisional GDP data for FY24 on May 31.
IMF asks Pakistan to 'impose' tax on monthly pensions, says 'new bailout programme' will require reforms
The International Monetary Fund (IMF) has requested Pakistan to impose a tax on monthly pensions exceeding Rs 100,000 as part of a new bailout program. The IMF's demand is expected to gain legislative support to tax wealthy pensioners. Pakistan remains committed to the IMF loan program and must exercise fiscal discipline to qualify. The IMF also demanded an increase in general sales tax (GST) to 18% on commodities and services, and the end of GST exemption.
Japan suffers worse-than-expected contraction of 0.5%
Gross domestic product in the world's fourth-biggest economy was expected to have shrunk by only 0.3 percent from the previous quarter, according to economist forecasts. Exports shrank 5.0 percent, after growing 2.8 percent the previous quarter, while imports fell 3.4 percent, data from the cabinet office showed. Compared with the first quarter of 2023, GDP fell 2.0 percent compared with a forecasted drop of 1.2 percent, according to Bloomberg News.
Inflation eases further to an 11-month low of 4.83% in April, despite higher food inflation
India's inflation decreased to a low of 4.83% in April, which is the lowest in 11 months, compared to 4.85% in the previous month, due to a slight increase in food inflation caused by high vegetable and pulses prices.
China's central bank vows to support economic recovery
China's central bank said on Friday it will ensure reasonably ample liquidity and credit expansion to consolidate the country's economic recovery, which still faces many challenges.
Bitcoin and Ether prices drop ahead of Fed interest rate decision
Bitcoin and Ethereum values dropped as investors awaited the Federal Reserve's interest rate decision. Other major crypto tokens also experienced losses. Binance's former CEO's sentence added to the market's uncertainty.
Oil stays near five-month highs as tighter supply looms
Oil prices stayed near five-month highs on Monday as markets expected tighter supply due to OPEC+ cuts and after attacks on Russian refineries, while Chinese manufacturing data supported a stronger demand outlook.
Wholesale inflation eases to a four-month low of 0.2% in February
Wholesale inflation dropped to 0.2% in February, marking a four-month low from the previous month's 0.27%, as per recent data. Despite a rise in food prices, overall input cost pressures remained low.
Load More
