Reserve Bank of India

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

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

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