Reserve Bank signals further rate cuts are imminent

The Reserve Bank has signaled further rate cuts are imminent as it looks to jolt the economy out of a stupor and drive down unemployment. Delivering one of its most sombre assessments in years, the RBA said employment was unlikely to grow faster than population growth – meaning wages are unlikely to rise without further stimulus and the jobless rate […]

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Will the Federal Reserve Cut Interest Rates at Its June Meeting?

The Federal Reserve's policy-making Federal Open Market Committee (FOMC) is set to hold its two-day June meeting this week, with its latest interest rate decision, statement, dot plot, and economic forecasts all scheduled to be released at 2 p.m. EDT on Wednesday. While the FOMC isn't expected to cut interest rates at this meeting, it's by no means out of […]

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IL&FS case: Reserve Bank, NCLAT spat comes to the fore

The NCLAT said the RBI cannot restrict it from prohibiting banks from ‘asset classfication’ and observed that any change in this order would upset the entire resolution process of the IL&FS. The Reserve Bank on Tuesday moved the NCLAT seeking modification of its order that restrained banks from declaring accounts of IL&FS and its group companies as NPAs even as […]

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Why is Uday Kotak being singled out for his bank’s success?

‘I find the RBI edict to the Kotak Mahindra Bank to reduce Uday Kotak’s shareholding very unreasonable,’ says Sudhir Bisht. Think of an enterprise that obtained a banking licence in 2003 when the public sentiment firmly preferred banking with ‘safe’ public sector banks as compared to the rookie private sector banks. The odds of success were firmly stacked against the […]

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What LIC needs to do to turn IDBI Bank profitable

While IDBI Bank’s 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC’s massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal […]

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Reserve Bank reveals design of Australia’s new $20 banknote

The Reserve Bank of Australia has unveiled a new $20 note, to be released into circulation in October. The new note will still bear the likenesses of Mary Reibey and the Reverend John Flynn, but has been modernised to follow the style of the recently upgraded $5, $10 and $50 notes. "Improved security and ease of recognition are important characteristics […]

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Federal Reserve to cut rates in 2020: Mohamed El-Erian

Fed will do nothing in 2019, but may cut rates in 2020: Mohamed El-Erian Allianz chief economic adviser Mohamed El-Erian on why he believes that the Federal Reserve will cut rates in 2020 and the strength of the U.S. economy. The Federal Reserve will keep its hand away from the rate cut flames this year, but may consider trimming the […]

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India is about to get its 3rd central bank governor in 3 years. Markets are concerned

On Monday, Reserve Bank of India Governor Urjit Patel became the fourth high-profile official in the country’s finance and economic sector to leave his position. Arvind Subramanian, a former chief economic advisor, stepped down in June and Arvind Panagariya, former vice chairman of government think-tank Niti Aayog, left last year. Patel’s predecessor, Raghuram Rajan, also stepped down in 2016 after […]

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