Why should one crank up one’s blood pressure for negligible gains from the stock market when FDs are generating tension-free returns of 7 percent and more?
Interest rates have also been hiked on the Baroda Tax Savings Term Deposit as well as Baroda Advantage Fixed Deposit, a non-callable retail term deposit scheme.
The lender has increased rates on retail term deposits
Dramatic moves force futures halt while investors resort to phones to arrange big deals
In the US, risk averse depositors are opting for bigger banks despite their low interest rates, prioritising safety over yields. This could prompt smaller regional and online banks to jack up interest rates, requiring regulators to watch out for unethical conduct
A pause in the Fed rate hike looks unlikely and a 25 bps hike still looks like a strong possibility, said former RBI Governor and economist Raghuram Rajan in an exclusive interview with CNBC-TV18, citing the fact that the core inflation in US is still going strong.
Liquidity is expected to tighten significantly amid advance tax collections and auction outflows for treasury bills.
For all the concern about Silicon Valley Bank, the latest Consumer Price Index shows why the central bank can't suspend the inflation fight prematurely
February’s consumer price index, excluding food and energy, increased 0.5% last month and 5.5% from a year earlier, according to Bureau of Labor Statistics data out Tuesday.
India's headline and core inflation has been unrelenting, with data post market close on Monday showing annual retail inflation remained above the Reserve Bank of India's (RBI) upper limit, easing only slightly from January's 6.52%.
Goldman Sachs Group Inc. said they no longer expect the Fed to deliver a rate increase next week, even after US authorities moved to contain a crisis spurred by the exodus of depositors from Silicon Valley Bank and Signature Bank.
A bit of humility from central banks is okay. Let’s not have too much thinking out loud
US Fed, Russia-Ukraine war, energy prices, relatively subdued earnings in Q2 and Q3 and consumption pangs and general elections next year will keep markets moving in both directions.
There was some disappointment that Beijing chose to lowball its growth outlook with a target of 5%, rather than the 5.5%-plus favoured by the market, but the recent run of actual data has been strong enough to keep investors optimistic.
Global markets have been buffeted by a raft of strong U.S. data over recent weeks, including U.S. jobless claims overnight, that suggested the Fed will need to raise rate further and for longer.
Hopes of the Federal Reserve ‘pivot’ have faded on the back of robust economic data. Markets fear the Fed funds rate could rise to over 6 percent.
China's official manufacturing purchasing managers' index (PMI) stood at 52.6 last month against 50.1 in January, based on data from the National Bureau of Statistics, smashing expectations as production zoomed after the lifting of COVID-19 restrictions late last year.
The slowdown in growth seen in last quarter of 2022 could continue and erode the 6.4% growth for the fiscal year through March 2024 estimated by the central bank, economists warned, ahead of the release of India's GDP data on Tuesday.
The number of Americans filing new claims for unemployment benefits unexpectedly fell in the week ended Feb. 18, decreasing 3,000 to a seasonally-adjusted 192,000, according to the Labor Department.
Minutes from the last RBI and Fed meetings were released yesterday. While MPC members remain divided over a halt in rate hikes and shifting focus to growth, some Fed members supported or could favor larger move on rate hikes going forward. Is a policy pivot out of question now? Watch this chat between Moneycontrol's Nandita Khemka and CNBC-TV18's Latha Venkatesh to know more.
MSCI's broadest index of Asia-Pacific shares outside Japan touched its lowest since Jan. 6 in early trade. It ground 0.5% higher as the morning wore on. Nasdaq futures rose 0.9% after a revenue beat at chip designer Nvidia sent its shares up 9% after-hours.
The focus in the wider financial market is firmly on the release on Wednesday of the minutes of the U.S. Federal Reserve's latest meeting, after recent data raised the risk of interest rates remaining higher for longer.
The one-year loan prime rate was held at 3.65% for a sixth consecutive month, in line with the forecasts from all 13 economists surveyed by Bloomberg. The five-year rate, a reference for mortgages, was also kept at 4.3%, as expected, data from the People’s Bank of China showed.
Spot gold was down 0.2% at $1,837.59 per ounce, as of 0048 GMT. U.S. gold futures eased 0.1% to $1,847.60.