ECONOMY


On 10th June, US inflation was at 8.6% for May, which is a new 40-year high, causing markets in the US as well as India to crash. On 15th June, the US Federal Reserve (Fed) hiked interest by as much as 75 basis points (bps) at one go, but the hike did not generate the required confidence that...

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India's wholesale inflation, gauged by the wholesale price index (WPI), with base year as 2011-12, rose to a record high of 15.88% in May 2022 from 15.08% in April, official data revealed on Tuesday.   The wholesale inflation has been in double digit for over a year now.   The...

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Dr B Yerram Raju Dr B Yerram Raju 13 June 2022
The Reserve Bank of India (RBI) raised the repo rate to 4.90% this week, amidst fears of rising inflation that went beyond its expectation. Banks took little time to pass on this rise to their borrowers. The implications have to be seen from the point of view of credit risk, particularly at a...

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India's retail inflation for May moderated from the previous month and came in at 7.04%. However, it remained above the Rserve Bank of India's (RBI's) 6% upper tolerance band for a fifth month in a row, data released on Monday showed.   The retail inflation stayed well above the RBI's...

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On Wednesday, the Reserve Bank of India (RBI) hiked the repo rate by 50 basis points (bps) or 0.5% to 4.9% in its effort to control inflation. Earlier, in a sudden shock move, on 4th May RBI had raised the repo rate by 40bps. Those who are now in their late-60s or older, would know that one...

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Moneylife Digital Team 09 June 2022
Even as global uncertainties are in abundance, growth numbers continue to show optimism locally, and the Reserve Bank of India (RBI) could factor in a rate hike in August and even October policy, and take it higher than the pre-pandemic level by August to 5.25% and in October to 5.5%, says a...

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Hours after the Reserve Bank of India (RBI) raised key lending rates, or repo rate, by 50 basis points to 4.9%, global financial services company Moody's Analytics said the central bank could hike the repo rate by another 60bps to 80bps points through the rest of the year.   It,...

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Governor  Reserve Bank of India (RBI), Shaktikanta Das, while estimating India's overall retail inflation for FY22-23 at 6.7%, said that the 75% of the increase in inflation projections can be attributed to the food group.   "It may be noted that around 75% of the increase in...

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Moneylife Digital Team 02 June 2022
India's gross domestic product (GDP) growth numbers at 7.5% perhaps look better on the back of a better statistical base and continued credit growth; however, it is subject to significant uncertainties. In the circumstances, State Bank of India (SBI) expects the Reserve Bank of India (RBI) to...

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The All-India Consumer Price Index for Industrial Workers (CPI-IW) for April 2022 increased by 1.7 points and stood at 127.7, according to a statement released by the ministry of labour on Tuesday.   On a one month percentage change, it increased by 1.35 per cent with respect to the...

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Moneylife Digital Team 30 May 2022
When consumer price index (CPI)-based inflation registered an eight-year high this April, on the back of an all-round rise in commodity, food and fuel prices, services inflation was still sedate. Inflation in services—the sector hit hardest by the pandemic and slowest to recover—is...

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After LPG cylinder, rising prices of tomatoes and green vegetables are jeopardising the common man's kitchen budget. In the national capital, tomatoes are being sold for Rs 60-80; while in many cities its prices have reached Rs 100 amid shortfall in supply.   Apart from tomatoes, green...

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India's central bank is mulling further rate hikes, said its governor Shaktikanta Das.   He also said the Reserve Bank of India (RBI) will not allow the rupee to depreciate and prevent volatility in the currency market.   In an interview to the CNBC TV18 channel, Mr Das also...

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High climatic temperatures affecting northwest India curbing wheat production and possible extended power outages exacerbating already high inflation and hurting growth is credit negative, said Moody's Investors Service on Monday.   The credit rating agency in a report said: "Over the...

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Moneylife Digital Team 19 May 2022
Expecting the retail inflation to average at a nine-year high of 6.9% in FY22-23, India Ratings and Research (Ind-Ra) says the Reserve Bank of India (RBI) will increase the policy rate by 75bps (basis points) at least in the rest of FY22-23.   According to the rating agency, the hike...

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India's wholesale inflation, gauged by the Wholesale Price Index (WPI) , rose to 15.08% in April from 14.55% in March, official data showed.   The WPI inflation was 10.74% a year ago.   Reportedly, WPI has been in double digits for over a year now.   The rate of...

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Amidst the continued rise in inflation, it is now almost certain that the Reserve Bank of India (RBI) will raise key policy rates in the June and August policy review meetings, thereby taking it to the pre-pandemic level of 5.15% by August 2022, said SBI Research in a report, adding that even...

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India's retail inflation accelerated to 7.79 per cent in April, remaining above the tolerance limit of the central bank for a fourth month in a row, data released on Thursday showed.   The retail inflation stayed well above the Reserve Bank of India's upper tolerance limit for a...

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Moneylife Digital Team 04 May 2022
Off-balance-sheet borrowings of states are estimated to have reached a decadal high of about 4.5% of gross state domestic product (GSDP), or around Rs7.9 lakh crore, in fiscal 2022. That marks a rise of 100bps (basis points) from fiscal 2020, reveals a CRISIL Ratings' study of 11 states that...

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Dr TV Gopalakrishnan 28 April 2022
"Many of the economic challenges we face today stem from the neglect of supply side policies over the past decade or more." Augustine Carstens (Times of India).    At 14.55%, March Inflation Hits Four Months (High Business Line)   Price Rise, Geopolitical Woes Offset Gains...

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