Slow Growth Rate

MPC minutes: Das urges focus on restoring inflation-growth balance

Policy priority should be on restoring the inflation-growth balance, said Shaktikanta Das, former Reserve Bank governor, while voting for a status quo on the short-term lending rate earlier this month. Das, and three other members of the rate-setting panel -- Monetary Policy Committee -- voted in favour of keeping the repo rate at 6.25 per cent, while the other two members favoured reduction in the rate. In its December bi-monthly monetary policy, the Reserve Bank of India (RBI) kept repo rate unchanged but cut the cash reserve ratio that banks are required to park with the central bank, as it did a balancing act between inflation management and supporting economic growth. With India's GDP seeing a sharper-than-anticipated dip in the July-September period to 5.4 per cent -- its slowest pace in seven quarters -- inflation on the uptick and rupee under pressure, the RBI had few choices to make. "The policy priority at this critical juncture has to be on restoring the inflation growth

MPC minutes: External members back rate cut, say inflation hampering growth

They also support a rate cut to avoid the risk of sharp currency appreciation if India does not normalise interest rates when most other global central banks have already embarked on an easing cycle

China's PDD suffers $55 bn market cap wipeout on uncertainties in market

The e-commerce retailer operates discount-focused platforms Pinduoduo in China and Temu for the international market

China central bank adviser calls for greater stimulus, inflation target

China should quicken fiscal spending and policymakers should shift their stance from prioritising investment over consumption, said Huang

Core sector growth slows to 6.3% in May due to output deceleration

For the first two months of this financial year, growth in the output of the core industries stood at 6.5%

Global banking is a bright spot

The world's financial system faces an intimidating set of challenges, but the lessons of the global financial crisis are holding banks in good stead

Citing Russia's war, IMF cuts global growth forecast to 3.6%

The war and the darkening outlook came just as the global economy appeared to be shaking off the impact of the highly infectious omicron variant

Export growth: Slow GST refunds, volatile currency may hit Feb numbers, too

Slow GST refunds and low growth in labour-intensive sectors, besides a volatile currency, could pull back India's export growth in February, data for which are set to be released later today