The European Central Bank confirms its intention to hike interest rates at its policy meeting next month and downgraded its growth forecasts
Spot gold was down 0.3% at $1,847.90 per ounce as of 0956 GMT and US gold futures had declined 0.3% to $1,850.50.
With inflation at a record-high 8.1% and broadening quickly, the ECB has already flagged a series of moves, hoping to stop rapid price growth from morphing into a hard-to-break wage-price spiral.
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The Indian central bank has now gone back to the familiar script, in line with the global central banks
The repo rate before the pandemic came was 5.15%
Listed non-financial firms had saved nearly Rs 1 trn because of decline in interest rates in FY21, FY22
The Sensex closed at 54,892, with a decline of 215 points, or 0.4 per cent, and the Nifty finished at 16,356, with a drop of 60 points, or 0.3 per cent
All the measures, including banking tweaks, to promote affordable housing seem to be unorthodox and practical, with the RBI playing its central bank role almost perfectly, says Finology Ventures CEO
The Federal Reserve is on track for half-point interest rate increases in June and July, and last week's solid jobs report boosted expectations of continued tightening by the US central bank.
RBI Governor Shaktikanta Das said late last month the bank's primary focus was to bring inflation down closer to target but it could not disregard concerns around economic growth
Spot gold was up 0.1% at $1,851.98 per ounce, as of 0752 GMT, while US gold futures rose 0.2% to $1,854.60.
It's time the central bank talked about 'appropriate' liquidity instead of 'adequate' liquidity
The Reserve Bank is expected to go for another rate hike of 0.40% at the scheduled review of the monetary policy next week, a foreign brokerage said on Friday.
The invasion has devastated the Ukrainian economy, which could shrink by at least a third this year as the war forced 40% of businesses to close, destroyed infrastructure, blocked shipping routes
Shares of leading listed brokerages have declined between 26% and 46% from 2022 highs
Customers, especially in retail verticals could be having a feel of future run expected in interest rates, and might be front loading their purchases in days to come, said SBI Research in a report
The U.S. dollar strengthened following hawkish comments by a senior Federal Reserve official causing gold to retreat, Ricardo Evangelista, senior analyst at ActivTrades said in a note.
The dollar index, which measures the safe-haven currency against a basket of six other major currencies, fell as low as 101.43, its weakest since April 25.
Says have entered another phase of 'coordinated action' between fiscal and monetary authorities