The dollar got off on the front foot on Wednesday following two days of gains as traders awaited the Federal Reserve’s Jackson Hole annual symposium later this week for clues on the path for monetary policy. A speech on Friday by Fed Chair Jerome Powell is the main focus, with the market watching for any…
The central government on Thursday welcomed S&P Global Ratings’ decision to upgrade the country’s long-term sovereign credit rating to ‘BBB’ from ‘BBB-’ and its short-term rating to ‘A-2’ from ‘A-3’, with a Stable Outlook. The last such upgrade came in January 2007, making this the first in 18 years. S&P cited economic resilience, sustained fiscal consolidation,…
RBI Repo Rate Unchanged: The Reserve Bank of India on Wednesday kept the benchmark repo rate unchanged at 5.5 per cent, as the Monetary Policy Committee struck a balanced tone between softening inflation and resilient economic growth. The decision unanimously backed by all six MPC members was widely expected, though the central bank’s lowered inflation forecast…
Mumbai: The Reserve Bank of India may consider replacing the unsecured weighted average call rate (WACR) with a secured rate-such as the tri-party repo dealing system (TREPS) rate or the newly introduced secured overnight rupee rate (SORR)-as the operational rate for effective monetary policy transmission, suggested Japanese brokerage firm Nomura. This shift would better reflect…