Congress chief appeals to citizens to join INDIA bloc’s Chalo Dilli rally on November 1; Rahul tells traders that Congress’ protest will end in ‘30 seconds’ if govt. sacks Chief Election Commissioner
US Treasury yields held steady as investors awaited the Fed rate decision on Wednesday and key US inflation, jobs and economic data due this week.
Finance Minister Nirmala Sitharaman said the Centre remains committed to reducing the fiscal deficit and aims to cap national debt at 50% of GDP by 2030. She also highlighted measures to control inflation and protect consumers from price shocks.
India’s private sector activity hit a four-month high in October as manufacturing and services gathered pace, new orders increased and inflationary pressures eased. However, hiring growth slowed, with employment rising at its weakest pace so far this year, according to a flash survey by HSBC.
MPC meeting minutes: The differing views of policymakers highlighted the challenge facing the RBI as it attempts to contain inflation without unnecessarily restricting economic activity.
Both rating agencies see an interest rate hike coming this fiscal year on high inflation, strong growth and the war in West Asia.
The U.S. Federal Reserve raised its benchmark overnight rate by a quarter point to a 3.75%-4.00% target range, marking its first hike since July 2023. The move, announced by new Fed chair Kevin Warsh, signals a continued tightening path amid persistent inflation pressures.
Tonight's Fed meeting outcome is being closely watched. Not merely for the size of any rate move, but also for what it says about the direction of US monetary policy after years of uncertainty over inflation, interest rates and the longer-term cost of money ahead of midterm polls.
Rising food and fuel costs, an unfavorable base effect, and recent flare-up in crude oil prices have prompted economists to project an repo rate hike starting October.
India's consumer price inflation climbed to a 20‑month high of 4.82% in August, surpassing the Reserve Bank of India's 4% midpoint target for the third month in a row. The persistent price pressure has revived market expectations of an early monetary policy tightening.
Retail inflation reached 4.4% in July, the highest in the current series, while wholesale inflation was 9.8%, the second highest in the new series
India's retail inflation rose to 4.82% in August, pushing the rate above the Reserve Bank of India's 4% midpoint target for the third consecutive month. The surge, fueled by higher food and fuel prices, could lead the central bank to reassess its monetary stance.
India's food inflation climbed to 5.95% in August from 5.52% in July
10877629 inflation
RBI Governor Sanjay Malhotra met Finance Minister Nirmala Sitharaman on Monday, a meeting that comes after India posted a record 7.8% GDP growth in the first quarter of the fiscal year. The discussion precedes the Monetary Policy Committee’s October session, where analysts anticipate a rate hike amid rising oil prices and inflation pressures.
To compound the misery, according to CMIE data, inflation-adjusted wages have also been consistently falling with a 5.7% drop since April, Jairam Ramesh said
India's wholesale price inflation in August edged close to a double‑digit rise, prompting concerns that the pace could accelerate in September. The Reserve Bank of India is closely monitoring the trend as it exceeds its retail inflation target range.
The August inflation print is the second highest in the new WPI series with 2022-23 as the base year
Mineral oils (containing petroleum products), food articles, manufacture of food products, basic metals, non-food articles, and chemicals and chemical products have been major drivers of WPI inflation
