Page 6 - Us Fed

RBI likely to keep key interest rate unchanged at 6.5%, say experts

Reserve Bank of India (RBI) is likely to keep the key interest unchanged at 6.5 per cent on Thursday, and wait for more macroeconomic data before taking a call on rate cut in line with expectations, experts said. The US Federal Reserve has decided to maintain a status quo on its interest rate for now and indicated there could be monetary policy easing in the coming months. Amid persisting inflationary pressures, RBI will be closely tracking the US monetary policy trajectory before changing its stance on interest rate, which has remained unchanged since February 2023, experts opined. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo rate). The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for August 6 to 8. Das will announce the decision of the rate-setting panel on August 8 (Thursday). The central bank last hiked the repo rate to 6.5 pe

Nifty surpasses 25,000 mark for the first time; Sensex breaches 82,000

The Nifty has rallied 15 per cent this year--the best-return among major global markets--amid optimism around India's growth prospects and driven by robust flows

China conducts surprise rate cuts in efforts to support weak economy

The cuts come after China last week reported weaker-than-expected second-quarter economic data and its top leaders met for a plenum that occurs roughly every five years

Considering Jamie Dimon for US Treasury, won't oust Fed's Powell: Trump

Powell said on Monday he has no plans to leave his post as head of the US central bank before his term expires

US Fed Chairman Powell opens key week of Fedspeak as rate cut case develops

The Fed meets July 30-31, but under the central bank's rules policymakers can't comment about monetary policy from this Saturday, July 20, until the Friday after the meeting

Govt bond yields flat, traders eye crucial US inflation data for cues

On Wednesday, the Federal Reserve Chair Jerome Powell said he was not yet ready to declare victory over inflation but felt that the economy is on a stable path to steady prices

Govt bond yields marginally lower; US Fed chief Powell's speech eyed

Powell's testimony before the Senate on Tuesday and the House on Wednesday could give investors more clues on the likely direction of rates

Asian shares edge higher, markets hope for dovish stance from Powell

Chinese blue chips edged up 0.1%, while Hong Kong's Hang Seng index was flat

US job growth expected to slow down, unemployment rate to remain steady

Financial markets remain optimistic the Fed could start its easing cycle in September after aggressively tightening monetary policy in 2022 and 2023

Fed officials at last meeting saw price pressures in decline, minutes show

Data released on June 12 showed the CPI had not risen at all in May on a month-to-month basis

Govt bonds register marginal dip tracking US peers after soft retail sales

US yields eased on Tuesday after data showed retail sales in the world's largest economy was weaker than expected in May

Asian stocks rise to their highest on tech rally, Fed rate cut wagers

Japan's Nikkei rose 0.59%, while blue chip stocks in China were 0.42% lower. Hong Kong's Hang Seng index rose 1.3%

As demand for electric vehicles dwindles, what are startups doing about it?

US EV startups are lowering manufacturing costs, laying off workforce, and racing to develop cheaper models to navigate a slump in demand due to steep borrowing costs

Gold slips Rs 10, silver gains Rs 100; yellow metal trading at Rs 72,210

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,340, Rs 66,190, and Rs 66,960, respectively

Oil up after Fed comments, expected US crude stockpile drawdown: Report

Prices extended gains on Tuesday after the New York Federal Reserve President John Williams said interest rates will come down gradually over time

Govt bond yields extend losses tracking US yields on rate cut bets

The futures market is pricing in 50 basis points of rate cuts this year, according to the CME FedWatch tool

Govt bond yields slip below 7% as markets cheer US inflation data

Even though the Fed sees only 25 bps of cut, the futures market is pricing in 44 bps of cuts in 2024

Some progress on inflation but just one rate cut this year likely: Fed

Federal Reserve officials said on Wednesday that inflation has fallen further toward their target level in recent months but signalled that they expect to cut their benchmark interest rate just once this year. The policymakers' forecast for one rate cut was down from a previous forecast of three, likely because inflation, despite having cooled in the past two months, remains persistently elevated. In a statement issued after its two-day meeting, the Fed said the economy is growing at a solid pace, while hiring has remained strong. The officials also noted that in recent months there has been modest further progress toward its 2 per cent inflation target. That is a more positive assessment than after the Fed's previous meeting May 1, when the officials said there had been a lack of further progress" on inflation. The policymakers, as expected, kept their key rate unchanged at roughly 5.3 per cent. The benchmark rate has remained at that level since July of last year, after the Fed .

Asia shares set for weekly gains as major central banks cut rates

The European Central Bank (ECB) delivered a well-telegraphed rate cut on Thursday, a day after the Bank of Canada became the first G7 nation to trim its key policy rate

RBI may keep interest rates on hold as slim Modi win boosts fiscal risks

Economists had already been pushing their forecasts for rate cuts to later in the year, predicting the RBI won't move until the US Federal Reserve pivots