Central bank communication now holds as much significance as central bank action. A single clause in a press conference can move markets more than a 25-basis-point adjustment.
India’s rate-setting panel is due to meet in the first week of August as the economy heads toward its first annual contraction in more than four decades.
Facing fiscal deficit of 7%, Modi govt can get the Reserve Bank of India to buy sovereign bonds directly or boost dividends to help supplement revenue.
The RBI’s Monetary Policy Committee Thursday stunned economists and market analysts by retaining the key interest rate at 5.15 per cent after pushing through five consecutive rate cuts since February.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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