Inflation-based on wholesale prices spiked to a four-month high of 5.28 per cent in October mainly due to rise in fuel prices, but the RBI is likely to maintain status quo in its next monetary policy review as crude prices and currency are stabilising.
The government hopes that the Reserve Bank of India (RBI) in its board meeting on November 19 will address the liquidity crisis that initially triggered a tiff between the government and the central bank, sources said.
Union Minister for Commerce and Industry Suresh Prabhu said Indian economy will quadruple to $10 trillion by 2035 riding on business-friendly policies, structural reforms and transparency in governance.
British inflation failed to rise as expected in October, according to official data that may raise questions about the strength of price pressures building in the economy ahead of Brexit.
Euro zone economy grew at its slowest pace in four years in the third quarter of 2018, while employment growth also eased during the period, data released showed.
The government and Reserve Bank seem to be veering around to reach an agreeable solution particulary with respect of relaxation of the Prompt Corrective Action (PCA) framework and easing of lending norms for the MSME sector ahead of the RBI board meeting on November 19, sources said.
Euro zone GDP growth will hit a faster albeit still modest rate this quarter, allowing the European Central Bank to end its stimulus programme next month as planned, despite economic and political concerns, a Reuters poll found.
Japan’s economy contracted more than expected in the third quarter, hit by natural disasters and a decline in exports, a worrying sign that trade protectionism is starting to take its toll on overseas demand.
Hong Kong’s economic growth is expected to have moderated in the third quarter as trade tensions between Beijing and Washington as well as higher interest rates take a toll, posing broader risks to growth in the Asia financial hub next year.