As Maharashtra government declared March 07, 2023 (Holi) and April 07, 2023 (Good Friday) as public holidays, the dates have been extended by a day
A special dispensation for the small and medium-sized MFIs is needed
Technical factors suggest the current bullish momentum to continue targeting 76 plus levels. Currency depreciation pressure and falling crude oil price should bode well for rate cuts
In the case of other central banks which implemented OT or LTRO kind of operations, these decisions were taken by the main interest rate body.
The end of the credit crisis in the bond market is unlikely despite the RBI’s measures
While transmission of lower cost of funds is expected to bring down lending rates, it may not be enough to revive credit demand.
The euro zone now seems to be slowly coming out of stagnation with Greece showing signs of recovery and now France and Germany have recorded an increase in their as the French GDP rose from -0.20% in the first quarter of 2013 to 0.50% in the second quarter and German rose from 0% in the first Quarter to 0.70% in the second in 2013, says Mecklai.
In an interview to CNBC-TV18, Patrick Legland, global head of research at Societe Generale said that the global market is in a consolidation phase, though the appetite for risk still persists.
The Indian government has taken a lot of bold measures over the last many days. In an interview to CNBC-TV18, Adrian Foster, Rabobank says the market is now focusing on implementation risk. "These reforms have indeed caught some investor attention," he adds.
Nirmal Bang has come out with its report on currency quarterly outlook. According to the research firm, the rise in inflationary expectations on onset of QEIII is likely to push the US benchmark note yields higher which is likely to favor dollar against the Japanese Yen.
Sarah Hewin, chief economist –Europe, Standard Chartered, explains to CNBC-TV18 that ECB chief Draghi is attempting to build consensus before the central bank‘s meeting on September 6. Hewin adds that even if the expected rate-cut of 25 bps is not announced, Draghi will reveal other policy measures.
Pimco's CEO Mohamed El-Erian told CNBC-TV18 that European policymakers are not ready to commit to unlimited bailouts for debt-distressed countries especially the capping of bond yields.
Geoff Lewis, ED, JP Morgan Asset Management feels that economies in countries like US, China and Brazil are stabilizing and growth is picking up there.
The risk of a new depression - a sustained, severe recession - has struck fear into the heart of markets and driven monetary policy in developed economies since the current financial crisis began.
In an interview to CNBC-TV18, Robert Parker, vice chairman, Credit Suisse says that while he sees a high probability of LTRO 3 within the next two to three months, he says the ESM, or the ECB intervention could have a significant impact on European markets.
Nirmal Bang has come out with quarterly currency outlook. According to the research firm, with the stabilization in peripheral yields coupled with improvement witnessed in euro zone benchmark yield, yield equation is likely to remain supportive for euro.
A rally in Asian shares fizzled out on Thursday as markets marked time before the European Central Bank's policy decision later in the day, with the euro staying pressured by widespread expectations of a rate cut to support fragile euro zone growth.
UR Bhat MD of Dalton Capital Advisors believes policy reforms will be the key driver for the market going forward.
Going into the EU summit, expectations were low and Robert Parker, Vice Chairman of Credit Suisse Asset Management expects clarifications on the bail out coming through. In an interview with CNBC-TV18, Parker said that till now, market participation has been very encouraging.
Rashesh Shah, chairman and CEO, Edelweiss Group says we are still another 18-24 months away from a bull market the likes of seen in 2007-2008.
Chief economic advisor Kaushik Basu has warned that if the Eurozone breaks up finally, it will be more disastrous than the 2008 global financial crisis triggered by the fall of the Wall Street banks, from which the global economy is yet to recover.
Moody's Investors Service said on Friday that a Greek exit from the euro could pose a threat to the currency's existence.
Tim Condon of ING Financial Markets gives his take on how global markets will react ahead of the European Central Bank's policy meeting later today and Federal Reserve chairman Ben Bernanke's testimony before Congress on Thursday.