economy

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

RBI's MPC minutes: Majority of members voted to keep repo unchanged Oct 19 2018

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.

Forex reserves tank over $5.14 billion as Rupee continues to fall Oct 19 2018

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.

UK posts smaller-than-expected budget deficit in boost for Hammond Oct 19 2018

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.

Argentina's Macri is stuck between the IMF and a hard place Oct 19 2018

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 Oct 19 2018

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.

Investors cut Italy debt, rate hike bets on EU budget warning Oct 19 2018

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 markets push back rate hike bets as EU clamps down on Italy budget Oct 19 2018

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.

BOJ's Kuroda warns of risks from protectionism, volatile markets Oct 19 2018

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.