The central bank move comes amid concerns of a credit crunch for the NBFC sector post default by some of the IL&FS Group companies
Majority of the RBI's six-member Monetary Policy Committee, including Governor Urjit R Patel, favoured to retain the key repo rate unchanged earlier this month, as part of "calibrated tightening" to keep retail inflation at 4 per cent, as per minutes of the meeting released Friday.
The continuing fall of the rupee has had its impact on foreign exchange reserves, which plunged by USD 5.143 billion to USD 394.465 billion during the week to October 12 on account of decline in foreign currency assets, according to the RBI data released.
Britain’s government recorded a smaller budget deficit than expected in September, according to figures that are likely to cheer finance minister Philip Hammond ahead of his annual budget.
Argentine President Mauricio Macri is used to seeing bad poll numbers as he struggles to drive through an unpopular austerity program that has cut fuel subsidies, raised taxes and sent utility bills soaring.
German industry association BDI on Friday called on European and British leaders to reach a swift and solid Brexit deal, warning that companies are “staring into the abyss” unless an agreement is struck.
Italian government bond yields hit 4 1/2-year highs after the European Union slammed Rome’s draft budget, while money markets bet that the EU-Italy tug-of-war could force the European Central Bank to delay its first rate rise.
Euro zone money markets are not fully pricing in an interest rate rise from the European Central Bank until October 2019, having earlier this week priced in a hike for September next year.
Bank of Japan Governor Haruhiko Kuroda warned of the need to be mindful of risks to the country’s moderate economic expansion, such as the rising tide of protectionism and volatile financial markets.