Reserve Bank of India

No U.S. Fiscal Package Yet as New Jobless Claims Exceed 1 Million for 20th Consecutive Week

August 6, 2020

Congressional talks on an additional fiscal stimulus reportedly remain far apart. The hope has been to secure agreement by tomorrow. Global Covid-19 cases just rose above the 19 million mark, and the U.S. total is closing in fast upon 5 million confirmed infections. Although more than 200k less than forecast, new U.S. jobless insurance claims […] More

40-Basis Point Indian Central Bank Interest Rate Cut on Top of March’s 75-Basis Point Reduction

May 22, 2020

The Reserve Bank of India Monetary Policy Committee also held an emergency policy review ahead of the regularly scheduled one previously set for early June. The Committee announced a 40-basis point reduction of its repo rate to 4.0%, which follows a previous 75 basis point cut in late March. Officials released a statement enumerating a […] More

Provocations by Chinese National People’s Congress and Special Central Bank Meetings in Japan and India

May 22, 2020

China’s government has decided to crack down on Hong Kong dissonance with a series of new security laws. Protesters will have fewer liberties and will be punished more severely. Hong Kong’s stock market plunged 5.6% in response. At China’s National People’s Congress, the tradition of setting an annual growth target was abandoned in a sign […] More

Softer Dollar as Investor Risk Appetite of Improves

April 27, 2020

The dollar opened the new week on a down note, sliding 1.0% against the Australian dollar, 0.8% relative to the kiwi, 0.5% vis-a-vis the peso and sterling, 0.3% against the euro, and 0.2% versus the yen and loonie. Gold is little changed. The main financial market move today has been a 17.4% dive in West […] More

Market Strains in Spite of Some Better-than-Feared Economic Data

April 1, 2020

The second quarter and Japan’s new fiscal year began on a difficult note for world financial markets. The Japanese Nikkei slumped 4.5%, while markets in India, South Korea, Hong Kong, Indonesia, and Singapore closed down 4.1%, 3.9%, 2.2%, 1.6% and 1.4%. The German Dax and Paris Cac are currently each 4.1%, while share price losses […] More

Reserve Bank of India’s Repo Rate Cut by 75 Basis Points

March 27, 2020

The Reserve Bank of India is the latest central bank to call an emergency meeting and approve a slew of stimulus measures. These include a 75-basis point cut of the repo rate to 4.40%, which brings the cummulative drop to 135 basis points since last August and to 210 basis points over the past 13 […] More

Fresh Coronavirus Concerns Hit Share Prices

March 27, 2020

The global tally of identified Covid-19 infections is at 549,430 people and has produced 24,872 deaths thus far. Spain saw its death count jump by 493 in the past day to 4,858 overall. In the U.K., both Prince Charles and Prime Minister John have tested positive. The United States now tops the leader board in […] More

Reserve Bank of India Eases

February 6, 2020

As expected, the Reserve Bank of India left policy settings unchanged, including a 5.15% repo rate, which previously had been cut by a total of 135 basis points between February and October of last year. A statement from the Monetary Policy Committee revised near-term inflation up due to higher onion prices, predicts that GDP will […] More

A Busy Day on Several Fronts

December 5, 2019

U.S. House of Representatives Speaker Pelosi has instructed Democratic members to draw up articles of impeachment against President Trump. Revised third-quarter GDP data for the euro area left the quarterly growth rate unchanged at 0.2%, which matches the second-quarter result. Consumption, business investment, and government spending made positive growth contributions, but net exports and inventories […] More

Concerns Over Trade Lessen

December 4, 2019

Zig-zagging perceptions from day to day about the likelihood of a U.S.-Sino trade deal have been a major source all year of short-term financial market volatility. The shifts often happen inexplicably, like changing weather. Today investors are more hopeful than yesterday that a deal will be reached to culminate phase I of the trade negotiations. […] More

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