Anubhuti Sahay News
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India’s central bank left interest rates unchanged for a third consecutive meeting after inflation accelerated and as it awaits steps to curb the fiscal deficit in the budget tomorrow.
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India’s government predicted the weakest economic expansion this year since 2009, adding pressure on the central bank to reduce interest rates.
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Indian Prime Minister Manmohan Singh , who’s halfway to his fiscal-year target for share sales with 35 days to go, may have to set a more ambitious goal for the next 12 months even as investors shun the country’s stocks.
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India’s central bank said the rupee’s weakness has emerged as a “new source” of price pressure and that the challenge to tame inflation “remains significant,” signaling the need for higher interest rates.
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India may find it hard to meet its budget-deficit target in the current fiscal year, Finance Minister Pranab Mukherjee said after the government last week decided to sell more debt.
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India’s industrial production rose less than expected following record interest-rate increases by the central bank and as the global recovery weakens.
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India’s food inflation accelerated to a three-week high, maintaining pressure on the central bank to raise interest rates further.
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India’s food inflation accelerated for the first time in four weeks, maintaining pressure on the central bank to raise borrowing costs to tame price gains.
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India’s food inflation accelerated to a three-month high, maintaining pressure on the central bank to increase interest rates amid the risk of a global downturn.
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India’s central bank will buy government bonds this month for the first time since January to boost cash in the banking system.
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