Tuesday, October 22

Tag: fed

SmallCaps outperform; Bajaj Hind, Apollo Micro zoom 10%
6Nov By adminNo Comments
Business

SmallCaps outperform; Bajaj Hind, Apollo Micro zoom 10%

Stock market LIVE updates: Th rebound in global equities entered third day Monday as last Friday's lower-than-expected jobs data in the US reignited hopes that the Fed will abstain from hiking rates going ahead.The S&P BSE Sensex was up over 300 points around 64,700 levels. The Nifty50, on the other hand,was up 100-odd points at 19,333.  Eicher Motors, Axis Bank, L&T, Grasim, Hero MotoCotp, Coal India, Hindalco, Adani Enterprises, NTPC, Bajaj Finance, and JSW Steel marched ahead with the most gains, rising between 1 per cent and 2 per cent.  In the broader markets, meanwhile, the BSE MidCap and SmallCap added 0.61 per cent and 0.99 per cent, respectively.  Among sectors, the Nifty Realty index clocked gains of 1.5 per cent, followed by the Nifty Met...
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RBI may hold fire even if Fed hikes rates twice: CEA V Anantha Nageswaran
2Nov By adminNo Comments
Business

RBI may hold fire even if Fed hikes rates twice: CEA V Anantha Nageswaran

The Reserve Bank of India (RBI) will not be under pressure to tighten its monetary policy even if the US Federal Reserve (Fed) increases interest rates further, Chief Economic Advisor (CEA) V Anantha Nageswaran on Thursday said. The Fed on Wednesday held interest rates with Fed Chair Jerome Powell saying the US central bank could raise them again if progress on cooling inflation stalled. “If the Fed were to hike 25 basis points, or even two times, that will not put pressure on the RBI to follow suit,” Nageswaran told Bloomberg Television on the sidelines of the Barclays Asia Forum in Singapore. The CEA held the RBI’s rate cycle had not been so tightly linked to that of the Fed because India’s external balances and financial stability were much better than they ...
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Interest Rates: US Federal Reserve rate pauses rate hike, sees tighter policy for year
21Sep By adminNo Comments
Business

Interest Rates: US Federal Reserve rate pauses rate hike, sees tighter policy for year

WASHINGTON: The US Federal Reserve held interest rates steady on Wednesday but stiffened its hawkish stance, with a further rate increase projected by the end of the year and monetary policy kept significantly tighter through 2024 than previously expected.As they did in June, Fed policymakers at the median still see the central bank’s benchmark overnight interest rate peaking this year in the 5.5-5.75% range — just a quarter of a percentage point above the current range.But from there, the Fed’s updated quarterly projections show rates falling only half a percentage point in 2024 compared to the full percentage point of cuts anticipated at the meeting in June. With the federal funds rate falling to 5.1% by the end of 2024 and 3.9% by the end of 2025, the central bank’s main measure of inf...
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Fed fines Deutsche $186 mln for slow progress in money laundering curbs
19Jul By adminNo Comments
Money

Fed fines Deutsche $186 mln for slow progress in money laundering curbs

WASHINGTON, July 19 (Reuters) - The Federal Reserve said on Wednesday it fined Deutsche Bank and its U.S. affiliates $186 million for failing to sufficiently address money laundering and other shortcomings flagged by the U.S. central bank.Deutsche must prioritize addressing several of those issues or face "additional and escalated" penalties, said the Fed, which imposed additional restrictions and ordered the bank to improve its risk and data management.The Fed identified the previous issues in 2015 and 2017 consent orders, which stemmed from deficient controls in Deutsche's relationship with the Estonian branch of Danske Bank which ended in 2015.In December, Danske Bank pleaded guilty to a bank fraud conspiracy and agreed to forfeit $2 billion to settle a long-running Department of Justi...
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Federal Reserve: ‘Almost all’ Federal Reserve officials agreed to skip June hike: Minutes
5Jul By adminNo Comments
Business

Federal Reserve: ‘Almost all’ Federal Reserve officials agreed to skip June hike: Minutes

WASHINGTON: A united US Federal Reserve agreed to hold interest rates steady at the June meeting as a way to buy time and assess whether further rate hikes would be needed, even as the vast bulk expected they would eventually need to tighten policy further, according to meeting minutes released on Wednesday.While "some participants" wanted to move ahead with a rate hike in June because progress in cooling inflation had been slow, "almost all participants judged it appropriate or acceptable to maintain" the federal funds rate at the existing 5% to 5.25%, the minutes said."Most of those participants observed that leaving the target range unchanged at this meeting would allow them more time to assess the economy's progress," toward returning inflation to 2% from its current level more than t...
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