Markets have been dogged by signs of cooling global growth, concerns over interest rates and worries that escalating tensions between the United States and China could scuttle a fragile trade truce.
N S Vishwanathan, senior most deputy governor, may be made interim head of the RBI following the unexpected resignation of Urjit Patel, according to sources.
Two names doing the rounds are that of Hasmukh Adhia, who retired as finance secretary on November 30 this year, and former economic affairs secretary Shaktikanta Das who retired earlier.
Turkey’s central bank is likely to keep its main interest rate on hold at 24 percent this week, a Reuters poll showed on Monday, following a bigger-than-expected decline in November inflation.
Britain’s economy lost speed as expected in the three months to October, reflecting falling car sales and factory stoppages due to weaker demand, raising questions about the economy’s health ahead of Brexit.
Investor morale in the euro zone slumped to a four-year low in December as fears about trade conflicts, Italy’s budget row with the European Union and Brexit led to a collapse in sentiment, a survey showed on Monday.
The European Central Bank and the Bank of England are set to work on an agreement laying out how banks should be treated in their respective jurisdictions after Brexit, senior ECB supervisor Ignazio Angeloni said.
Reserve Bank of India deputy Viral Acharya has not resigned, a spokesman from the RBI clarified on Monday following speculation that Acharya would also step down following governor Urjit Patel, television channel CNBC TV18 said.
The Reserve Bank of India’s Governor, Urjit Patel, resigned for “personal reasons” on Monday, a decision analysts linked to the intense pressure on the central bank from the government to ease regulatory curbs.
The onset of a U.S. recession could take longer than usually thought after key points of the Treasury yield curve invert, as a surge in U.S. short-dated debt issuance has altered the dynamics of the Treasury market and other indicators show an economic downturn is farther off.
The Japanese economy contracted the most in over four years in the third quarter as companies slashed spending, threatening to chill the investment outlook in 2019 as the export-reliant nation grapples with slowing global growth and trade frictions.
RBI Governor Urjit Patel, who had a run in with the government over autonomy of the central bank, Monday resigned from his post. In a brief statement, Patel said he has decided to step down with immediate effect.
France’s economy will grow by a slower-than-expected 1.5 percent this year, the country’s deputy finance minister said, as a wave of nationwide unrest and violent protests in Paris hurts retail and the tourism industry in the Christmas run-up.
Regulators in India that are not answerable to any appellate authority should involve other stakeholders for better decision-making, the country’s finance minister said, according to the newspaper.
Gross direct tax collections surged 15.7 per cent to Rs 6.75 lakh crore for April-November, the finance ministry said.