Gold records its worst weekly fall this year on hawkish Fed minutes

Gold records its worst weekly fall this year on hawkish Fed minutes

Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more

EPF rate cut will force India’s salaried class to rework their retirement math

EPF rate cut will force India’s salaried class to rework their retirement math

The reduction in interest rate on employee provident fund deposits underlines the need for the salaried class to start retirement planning early in the career and consider a diversified portfolio to invest their savings, say experts. “The magic of compounding works wonders in terms of quantum of savings and helps limit (to some extent) the … Read more

RBI likely to keep interest rates unchanged, may revise growth projections: Industry experts

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The Reserve Bank is likely to keep the benchmark interest rate unchanged at its bi-monthly monetary policy review outcome to be announced on Friday, but may revise growth estimates in view of the September quarter GDP turning out to be better than RBI‘s earlier projections. According to experts, the stubborn retail inflation, which has remained … Read more

Rate cuts beyond a point could be counter-productive: Report

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Policy rates cannot dip below a threshold, beyond which a rate cut could be counter-productive and lead to an economic contraction rather than stimulating it, according to a research report by SBI economists. They further said that lowering policy rates below 3.5% could be counterproductive and recommended an activist fiscal policy going forward. The report … Read more

SBI cuts MCLR by 5-10 bps for short-term loans. Here are the latest rates

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The State Bank of India (SBI), India’s largest public sector lender, announced Wednesday morning that it has reduced its marginal cost-based lending rate (MCLR) by 5-10 bps for shorter tenor loans (i.e., up to three months). According to the bank’s press release, the new rates will be effective from July 10, 2020 and that it … Read more