Reserve Bank of India
Reserve Bank of India’s Cash Reserve Ratio Raised
February 5, 2021
The Reserve Bank of India as expected left its repo rate and reverse repo rate unchanged at 4.0% and 3.35%, respectively (there had been rate cuts of 115 basis points during 2020.) at the same time an initial move away from the ultra-expansionary stance commenced with today’s other decision to raise the bank’s cash reserve […] More
Cautious Optimism on a Couple of Fronts
October 9, 2020
The reopening of Chinese markets after the Golden Week holiday say the yuan advance 1.3%, reflecting ongoing strength in its offshore value, and China’s stock market advance 1.7%. The dollar also fell overnight by 0.6% against the Swiss franc, 0.5% relative to the kiwi and Mexican peso, 0.4% versus the euro, 0.3% vis-a-vis the Australian […] More
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
