Reserve Bank of India

Indian Monetary Policy Tightened As Well

September 30, 2022

Excessive inflation also concerns officials at the Reserve Bank of India, who raised the repo rate by an expected half percentage point to 5.90% at this weeks policy review. Three previous hikes in May, June and August had totaled 140 basis points, more than reversing 115 basis points of ease enacted in the first half […] More

Third Quarter Ushered Out With Disturbing Inflation Data, More Central Bank Hikes,High Tension in Asia, a Mega-Storm in the U.S. Southeast, and a Strong Dollar

September 30, 2022

The weighted DXY dollar index rose 0.2% overnight but is 2% below Wednesday’s peak. The dollar advanced so far today by  0.4% against the euro, Swiss franc, Australian dollar and sterling but just 0.1% versus the yen. Thursday had seen heavy selling of equities. Share prices today closed down 1.8% in Japan, 1.2% in Australia, […] More

Reserve Bank of India Raises Interest Rate

August 5, 2022

The Reserve Bank of India engineered a third hike of its policy interest rate, lifting such by 50 basis points to 5.40%. This matched June’s incremental rise, which had followed an initial 40-basis point increase in May. The rate is now at its highest level since September 2019. A released statement explained today’s move: With […] More

Investors Treading Water Ahead of U.S. Monthly Release of Jobs Data

August 5, 2022

Market movements: U.S. stock futures and the dollar are barely changed.  Likewise, the prices of gold and West Texas Intermediate crude oil have dipped just 0.2% and 0.3%, although the latter has now retreated roughly 29% from its 52-week high set in early March. Bitcoin rallied 3.4%. The Reserve Bank of India engineered a third […] More

More Bad Inflation News and a Diversity of Central Bank Decisions

April 8, 2022

The dollar continued to trade at historically firm levels overnight. The weighted DXY dollar index is up 0.1% and touched another multiyear high of 99.99. Gains of 0.5%, 0.3% and 0.2% were made against the New Zealand, Australian and British currencies, but the greenback dipped 0.2% versus the Russian ruble. Asian stock markets made modest […] More

Several Central Banks Left Rates Steady, But Fresh Price Data Fan Concern

February 10, 2022

The Reserve Bank of India‘s repo and reverse repo rates were left unchanged at 4.0% and 3.35%. A released statement explains, “The MPC notes that inflation is likely to moderate in H1:2022-23 and move closer to the target rate thereafter, providing room to remain accommodative” And adds “the ongoing domestic recovery is still incomplete and […] More

Quieter Day: Omicron Developments Still Encouraging

December 8, 2021

Omicron news continues to be reassuring. Booster shots appear to reduce rate of transmission, and the symptoms of this Covid variant seem less severe than with the Delta Variant. The most notable financial market development today has been a large rise in Continental European ten-year sovereign debt yields, for instance, of 10 basis points  in […] More

Dollar Strengthening after Solid U.S. Employment Report

August 6, 2021

The DXY weighted dollar index advanced 0.4% overnight but, at 92.58, remains well inside its 52-week range of 89.21 – 94.74. The dollar’s overnight advance has been broadly spread, with gains of at least 0.3% against the euro, yen, Aussie dollar, Swiss franc and sterling. The U.S. July employment situation improved more rapidly than anticipated, […] More

Little Change in Dollar or Share Prices; More PMIs Attest to Rising Inflationary Pressure

April 7, 2021

The dollar advanced overnight by 0.6% against the Turkish lira as well as 0.4%, 0.3% and 0.2% against the Australian, New Zealand and Canadian dollars. But the greenback otherwise held steady against the yen and fell 0.1% versus the euro and on a weighted basis. Share prices in the Pacific Rim closed up 0.9% in […] More

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

css.php