The most important reason for such a turn of events is the Fed's recognition that any future monetary policy changes should be part of a medium-term (a period of one to five years) policy mix to stabilize a sharply slowing US economy.
Williams does not have a vote on Fed policy this year, but his views are seen as influential on the policy-setting committee because of his longstanding relationship with Fed Chair Janet Yellen, his former boss at the San Francisco Fed, and his research-driven style.
Policy makers also believed the global financial system had properly withstood any shock created by Britain's June vote to exit the European Union, the minutes said.
In his speech in Knoxville, Lockhart said recent US gross domestic product data overstated weakness in an economy whose fundamentals remain on track for moderate growth through this year and next. He added, however, that he is not locked into a particular date for a rate increase.
Reserve Bank Governor Raghuram G Rajan presented his last monetary policy review. Updates here.
This is going to be the last bi-monthly monetary policy to be decided by the central bank Governor as the broad-based 6-member panel may take over the job before the next review on October 4.
"A subvention of 2 percent per annum will be made available to... for short-term crop loan up to Rs 3,00,000 per farmer, provided the lending institutions make available short-term credit at the ground level at 7 percent per annum to farmers," RBI said in a notification.
In a significant upturn, services sector grew at its fastest pace in three months in July on surge in new business orders and low prices, a monthly survey showed today, raising hopes for a rate cut by RBI Governor Raghuram Rajan in his last monetary policy review next week.
Noting that factors, such as road infrastructure and inflation seem to be closely linked to residential price movements, a report titled â€˜Indian Real Estate: Comprehending the varying speeds of growth‘ by JLL India and R
Recently, loan against property (LAP) has emerged as a popular form of long-term loans, especially among the self-employed. According to a recent report from CRISIL, this loan category is expected to grow 22% annually R
The Bank in a statement said it was committed to passing on the benefit of lower cost of resources to its customers at the bottom of the pyramid and for this, a further rate was reduced by 60 basis points.
There are several benefits to buying a property in a woman‘s name, either as the sole owner or as a joint owner, with governments and banks offering several sops. â€œAspiring home buyers can seek R
The Federal Reserve can be patient on raising interest rates due to low inflation and uncertainties over U.S. economic prospects, including Britain's vote to leave the European Union, an influential U.S. central banker said on Tuesday.
A pre-approved loan is an instrument that is used by banks, to attract customers to avail of its facility without much hassle. Generally, there is a fair amount of uncertainty for home buyers, till R
As per the summary of electronic consultation with the Technical Advisory Committee (TAC) released by RBI, three of the five external members recommended no change in policy rates.
"In the very near term, there could be some adverse spillover on India through financial linkages with rest of the world. However, I expect the dust to settle down soon as our policymakers have enough ammunition to ward off unwarranted volatility," he said, echoing views of the Indian business community.
Exports declined 11.3 percent year-on-year in May, Ministry of Finance data showed on Monday, versus the median estimate for a 10.4 percent annual fall and a 10.1 percent annual drop in April.
Moves by central banks from Japan to the euro zone to slash interest rates below zero have upended financial markets: investors are now paying some governments for the privilege of parking their funds while commercial lenders are mulling storing their cash in costly vaults instead of keeping them with central banks.
The Reserve Bank of India (RBI) kept its policy interest rate unchanged at a five-year low of 6.50 percent on Tuesday, while signalling the prospect of another cut later this year if monsoon rains dampen upward pressure on food prices.
Home loan balance transfer surely saves some money. But do not go for a blind bet.
HDFC Ltd today said it will raise Rs 730 crore through private placement of non-convertible debentures.
Growth of India's manufacturing sector may decelerate during June quarter due to factors like bleak export outlook, poor demand and high cost of borrowing, a Ficci survey has said.
At present, it is necessary that at least one of the two parties in the swap is either a bank or the RBI itself or an entity regulated by it. Any other regulated entities are not allowed to deal in IRS.
RBI is closely watching inflation data as well as monsoon rain forecasts for deciding on further interest rate cuts and the monetary policy still remains in the "accommodative mode", Governor Raghuram Rajan said.
According to the bank's research report, despite a relatively high real interest rate, deposit rates of banks have not picked up.