Page 9 - Us Fed

ECB raises interest rates to highest in 22 years, signals more increases

The European Central Bank pressed ahead with another interest rate hike on Thursday and pledged more are on the way, aiming to crush inflation that is driving up the cost of groceries, utility bills and summer vacations even after the US Federal Reserve took a break from its own string of increases. The boost of a quarter-percentage point, to 3.5 per cent, is the eighth straight increase since July 2022 for the 20 countries that use the euro currency. That is an unprecedentedly swift campaign to tighten the flow of credit to the economy as the bank seeks to return inflation to its target of 2 per cent from 6.1 per cent. ECB President Christine Lagarde said more hikes, including at the bank's next meeting on July 27, are in the cards. Are we done? Have we finished the journey? No, we're not at destination. Do we still have ground to cover? Yes, we have ground to cover, she said at a news conference. Lagarde said the bank will continue to hike at our next meeting. So we are not thin

Top headlines: Evacuation completed ahead of cyclone, US Fed holds rate

Business Standard brings you the latest headlines at this hour

European stocks rise ahead of US inflation data, ECB and US Fed meeting

LONDON (Reuters) -European stocks rose in early trading on Monday and world stocks were just below 13-month highs ahead of key inflation data and U.S. Federal Reserve and European Central Bank meetings later in the week.

TMS Ep422: PLI scheme, Ease of Moving Index, markets, double jeopardy

Has the PLI scheme lived up to expectations? What does 'Ease of Moving Index' tell us about Indian cities? How to trade the markets ahead of US Fed? What is double jeopardy? All answers here

Crypto wrap: Market in the green ahead of US Fed announcement next month

The US Federal Reserve is expected to meet on May 2 and 3 to decide on further rate hikes

Hackers release sensitive information after ransomware attack on CommScope

The leaked data includes employees' social security numbers and bank account details

Flows will chase relative growth outperformance in FY24: Rahul Arora

The US Federal Reserve (Fed) and the Reserve Bank of India (RBI) should hike once more by about 25 basis points each, says Rahul Arora CEO-institutional equities at Nirmal Bang

Rupee gains sharply vs dollar as Federal Reserve softens view on rate hike

So far in 2023, the rupee has gained 0.5 per cent against the US dollar

US lenders face scrutiny as Federal Reserve's rate decision looms

The Fed's relentless rate hikes to rein in inflation have been partly blamed for sparking the biggest meltdown in the banking sector since the 2008 financial crisis

US Fed meeting, banking crisis to drive equity markets this week: Analysts

The trading activity in the domestic equity markets is likely to remain volatile this week as investors will focus on global cues such as the outcome of the US Federal Reserve meeting and the US banking crisis due to lack of local triggers, analysts said. FII activity and movement in the rupee and oil prices will also be watched by traders as global trends have been dictating the direction of the local stock markets currently, they added. Benchmark Sensex and Nifty declined by around 2 per cent last despite a recovery in the last two sessions due to selling in financials, IT, auto and banking stocks as fears of contagion of the US banking crisis kept investors on the edge. The US banking crisis remained at the centre stage keeping the participants on their toes. Besides, the continuous outflow the foreign funds added to worries, analysts said. "In absence of any major domestic event, the focus would be on the upcoming FOMC meet scheduled on March 21-22. Besides, movement in crude a

Was the Fed too late on SVB even though it saw problem after problem?

As the upgraded crew took over, it fired off a series of formal warnings to the bank's leaders, pressing them to fix serious weaknesses in operations and technology

Banks borrow $164.8 billion from US Fed in rush to backstop liquidity

The data also showed $11.9 billion in borrowing from the Fed's new emergency backstop known as the Bank Term Funding Program, which was launched Sunday

Most APAC fin institutions immune to US bank failure, rising rates: Moody's

Most Asia Pacific financial institutions are not exposed to the failed US banks and are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was, Moody's said on Tuesday. On March 12, US regulators closed Signature Bank, just two days after shutting Silicon Valley Bank, following mass withdrawals of customer deposits from these regional banks. Moody's Investors Service said these events are likely to result in a tightening of liquidity in debt markets globally as investors grow wary. However, the impact will be limited for most rated financial institutions in Asia-Pacific (APAC) because of structural factors. "Also, most APAC institutions are not exposed to the failed US banks, and only a handful of institutions has immaterial exposures. Finally, most institutions are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was," Moody's said. The US-based rating agency said rated banks in APAC structurally have stable .

SVB collapse: Large domestic deposits cushion Indian banks, say analysts

Mark-to-market impact on Indian banks seen limited thanks to HTM provisioning

Here's everything we know about how the Fed is handling the SVB crisis

Fearing contagion would upend the industry, the US Federal Reserve, Treasury Department and Federal Deposit Insurance Corp. moved quickly over the weekend to protect customer deposits

How to approach IT stocks amid tighter monetary policy, recession fears?

According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra

Global mkts fully pricing in Fed hike to 5.5%; Indian equities at risk: UBS

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market

Blowout jobs: A headache for Federal Reserve, or a back-to-2019 gift?

The dissonance in the data will be a key puzzle for policymakers to resolve as they plot their next interest rate moves

Bulls stage turnaround on Monday; key reasons why Sensex rallied 850 pts

The market sentiment got a boost from jobs and services data in the US, which hinted at a cooling economy prompting bullish bets from investors

Sensex sinks 637pts, gives up 61K, Nifty near 18K; Realty, Metals top drags

CLOSING BELL: TCS, Maruti, Divis's Labs, HDFC Life and Dr Reddy's were among the handful of stocks that held minor gains