Debate over rate moves at US central bank is shifting

Debate over rate moves at US central bank is shifting

Washington: As Federal Reserve officials close in on the end of their tightening campaign, the debate is shifting from how high interest rates need to go to how long they should stay elevated. Inflation pressures are easing, which could give policymakers room to keep interest rates at or near current levels for the time being. … Read more

Gold might trade with a bearish bias next week as short-term macro headwinds persist

Gold might trade with a bearish bias next week as short-term macro headwinds persist

COMEX Gold prices started the week on a negative note as mixed data from the US coupled with weak economic data from the European peers bolstered the greenback. US Services activity slowed more than forecast in July, however, manufacturing activity rebounded to a three-month high. At the same time, European and UK Services activity eased … Read more

Rate-setting panel member asks RBI to talk clearly for greater good

Rate-setting panel member asks RBI to talk clearly for greater good

An outspoken member in India’s rate-setting body has criticized the central bank for being non-transparent about its policy intent and confusing the public with technicalities. “The monetary policy committee should not be content with communicating to an ‘inside’ audience of regulated entities in a coded language, but should endeavor to communicate with the general public … Read more

Currency in circulation down Rs 36,000 cr week after Rs 2k note move

Currency in circulation down Rs 36,000 cr week after Rs 2k note move

Mumbai: Currency in circulation declined by ₹36,492 crore a week after the Reserve Bank of India requested people to deposit or exchange the recently withdrawn ₹2,000 notes, most probably reflecting the value of notes returned to banks. Latest RBI data shows that the outstanding currency in circulation (CIC) as on May 26 was at ₹34.4 … Read more

Euro to the fore as hawkish hike looms

Euro to the fore as hawkish hike looms

The dollar was on the back foot and the euro climbed on Tuesday, as regional bank jitters had traders expecting U.S. interest rate cuts before long, while in Europe a 50 basis point hike remains a live option at next week’s central bank meeting. The euro rose above $1.10 overnight and was still going at … Read more

Gold may decline on reduced safe-haven demand; Support is seen at $1969

Gold may decline on reduced safe-haven demand; Support is seen at 69

Gold closed with a weekly loss of 1% at $1982.89. The metal was hammered lower Friday on better-than-expected S&P US global PMIs data. Repeated attempts to take out stiff resistance at $2020 have failed, which makes gold somewhat vulnerable in the near-term. S&P global manufacturing PMI preliminary data for April showed that the US manufacturing … Read more

IMF’s growth forecast for India may have errors, real numbers to come as a surprise: RBI

IMF’s growth forecast for India may have errors, real numbers to come as a surprise: RBI

The Reserve Bank of India (RBI) has said that the International Monetary Fund’s growth forecast for India might be off the mark. “Although too early to tell, most recent data arrivals suggest that the multilateral institutions – the IMF, in particular – might encounter forecast errors, with actual outcomes surprising them positively,” RBI said in … Read more

RBI resumes dollar buying, net purchases $254 m in Feb

RBI resumes dollar buying, net purchases 4 m in Feb

The Reserve Bank of India (RBI) net purchased $254 million in the foreign exchange market in February, resuming dollar purchases after a month. The RBI bought $4.38 billion and sold $4.13 billion in the spot market in February, data in the central bank‘s April Bulletin showed. The RBI had net sold $384 million in January. … Read more

Not activating counter-cyclical capital buffer, says RBI

Not activating counter-cyclical capital buffer, says RBI

The Reserve Bank on Thursday said it has been decided not to activate countercyclical capital buffer (CCyB) at this point as it is not required. The framework on the countercyclical capital buffer (CCyB) was put in place by the Reserve Bank of India (RBI) in terms of guidelines in February 2015 wherein, it was advised … Read more

5 world market themes for the week ahead

5 world market themes for the week ahead

Earnings season gets into full swing, while the first snapshot of business activity in April could provide a sense of how much pain the turmoil in the banking sector has inflicted on the world economy. China and Britain release key economic data and officials from the Group of Seven nations talk climate goals. Here’s a … Read more