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India, South Korea bonds to join FTSE Russell government indexes in 2025 Global index provider FTSE Russell said on Tuesday it would include India's sovereign bonds in its Emerging Markets Government Bond Index (EMGBI) from September 2025, after index inclusion by JP Morgan and Bloomberg Index Services, potentially drawing billions of dollars into local bonds. The London-based index provider also added South Korean government bonds to the FTSE World Government Bond Index (WGBI) after two years on its watch list. South Korean government bonds would repres...
India, South Korea bonds to join FTSE Russell government indexes in 2025
India, South Korea bonds to join FTSE Russell government indexes in 2025
Source: Reuters
2024-10-09 09:42:45 am
Perspective On RBI Monetary Policy Committee Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Below the Quote on On RBI Monetary Policy Committee Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services   The fluidity of global Goldilocks narratives, financial markets turmoil and policy repricing’s found little space in the Governor's speech, thanks to recent easing volatility in the financial markets. However, noisy food inflation back home, and a still-elusive 4% inflation target formed the base for the RBI decision making. Unde...
Perspective On RBI Monetary Policy Committee Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Perspective On RBI Monetary Policy Committee Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-08-08 03:36:17 pm
Inflation target evades India central bank's rate panel as rejig looms The Indian central bank's rate setting panel faces another food-driven spike in inflation as it meets a final time ahead of the exit of the committee's external members in the first of several scheduled key policymaker changes over coming months. The six-member monetary policy committee (MPC), which includes three central bank officials and three external members, is recast every four years when the government appoints a new set of external members. The reshuffle could change a ...
Inflation target evades India central bank's rate panel as rejig looms
Inflation target evades India central bank's rate panel as rejig looms
Source: IANS
2024-08-07 10:32:24 am
India's Modi faces delicate balancing act in post-election budget Indian Prime Minister Narendra Modi's first post-election budget on Tuesday will seek to lay out an economic vision that balances fiscal prudence with the expectations of disgruntled voters and the demands of his coalition partners. "This budget will decide the direction of our work for the next five years and this will lay the foundation of fulfilling our objective to make India a developed country by 2047," Modi said on Monday ahead of the budget, due to be presented by Fin...
India's Modi faces delicate balancing act in post-election budget
India's Modi faces delicate balancing act in post-election budget
Source: Reuters
2024-07-23 08:41:28 am
July begins with healthy rainfall, sowing status better than last year: Report Signalling a normal monsoon ahead, The cumulative rainfall reached 1 per cent above the long-term average (as on July 6) while weekly rainfall (as on July 3) was 32 per cent above the long-term average in the country, a report showed on Monday. Spatial divergence has reduced with most of the country receiving healthy rains during the last week. North and West India (3 per cent), Central India (-6 per cent), East and North East India (0 per cent ), and the southern peninsula (13 per cent...
July begins with healthy rainfall, sowing status better than last year: Report
July begins with healthy rainfall, sowing status better than last year: Report
Source: IANS
2024-07-08 11:29:20 am
India`s FM Nirmala Sitharaman gets finance portfolio for a second term, with new challenges Nirmala Sitharaman, who is credited with India's economic success over the past five years, will remain finance minister in Prime Minister Narendra Modi's third term, taking on the challenge of ensuring more equitable growth across the world's most populous nation. Sitharaman, 64, who became the nation's first full-time female finance minister in 2019, is a trained economist under whose tenure the Indian economy has charted a path of high growth and fiscal prudence. But ...
India`s FM Nirmala Sitharaman gets finance portfolio for a second term, with new challenges
India`s FM Nirmala Sitharaman gets finance portfolio for a second term, with new challenges
Source: Reuters
2024-06-11 09:30:51 am
Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Below the Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services    RBI MPC: Vote Split on Rate Cut Increases, But Easing Cycle Still Stay Elusive in CY'24:   No change in repo rate, with a 4-2 vote split, led by two external members (vs 5-1 prior) on the rate action and stance. RBI reiterated that policy must continue to be actively disinflationary to ensure fuller transmission and the last m...
Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-06-07 04:42:47 pm
Return of NDA augurs well for Indian economy: Experts The return of Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) to power for the third time in succession, as predicted by various Exit Polls, augurs well for the Indian economy as it provides stability and continuity in policy-making, said experts and a broking house.  They believe that the return of NDA will calm down the investors' nerves, as political and policy continuity will be good for risk assets in the immediate run and macro stability in the medium ter...
Return of NDA augurs well for Indian economy: Experts
Return of NDA augurs well for Indian economy: Experts
Source: IANS
2024-06-03 10:55:37 am
Perspective on US Fed by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Below the Perspective on US Fed by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Service   Here comes another one, this time from the Chief & We are not surprised with this gracklish tone!  The way Fed wud confuse in guiding the markets (esp thru this year) is exactly what we have been arguing since 2022 and formally removed any rate cuts forecasts in early Mar'24 (report below) * This is something that had immediately rubbed off to o...
Perspective on US Fed by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Perspective on US Fed by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-04-17 02:51:51 pm
Food weighting in India`s consumer price index may be cut as spending shifts - official Food is likely to have a smaller weighting in India's consumer price index in future, a government official said on Monday, a move that could make consumer inflation less volatile after a major household survey showed lower spending on food. Food's weighting in the consumer price index could be lowered in the next revision of the basket of goods due to be completed by next year, the official who declined to be identified told Reuters. The government's statistics ministry did...
Food weighting in India`s consumer price index may be cut as spending shifts - official
Food weighting in India`s consumer price index may be cut as spending shifts - official
Source: Reuters
2024-02-27 09:17:25 am
Perspective on IIP and CPI numbers by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Below the Perspective on IIP and CPI numbers by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services    “The mild upside surprise on CPI inflation has come on the back of higher-than-expected food inflation, led by higher sequential momentum in eggs, meat & fish and pulses, while cereals remained under pressure despite rising materially in 2023. Vegetable inflation has also remained elevated with sequential contraction being less than the usual sea...
Perspective on IIP and CPI numbers by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Perspective on IIP and CPI numbers by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-02-13 10:00:16 am
Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Below the Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services    A benign global narrative, tighter system liquidity and easing core inflation despite stronger growth acted as comfortable backdrops to today’s MPC meeting. The policy tone today was confident on domestic dynamics and on meeting external financing needs, with growth upgrades and comfortable inflation trends despite near-term food-led risks.  ...
Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Perspective on RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-02-08 02:36:32 pm
India`s central bank leaves rates unchanged, as expected India's key rate was left unchanged for a sixth straight meeting on Thursday, in line with expectations, as inflation remained above the central bank's 4% medium-term target while economic growth continued to be resilient. The six-member monetary policy committee (MPC), consisting of three Reserve Bank of India (RBI) and three external members, left the key repo rate unchanged at 6.50%. The committee said it would remain focused on 'withdrawal of accommodation', suggesti...
India`s central bank leaves rates unchanged, as expected
India`s central bank leaves rates unchanged, as expected
Source: Reuters
2024-02-08 11:18:42 am
Perspective on CPI inflation Numbers by Ms. Madhavi Arora, Emkay Global Financial Services Below perspective by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services on CPI numbers.   CPI inflation: Core inflation to undershoot headline ahead December CPI inflation printed a tad better than our expectations at 5.69%, but still rose mildly vs last month. While the food inflation data on a sequential basis was underpinned by the seasonal contractionary behaviour seen in December, we reckon the perishables, specifically veg prices easing was lower than the a...
Perspective on CPI inflation Numbers by Ms. Madhavi Arora, Emkay Global Financial Services
Perspective on CPI inflation Numbers by Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-01-13 09:49:56 am
Perspective on Impact of higher freight costs via Red Sea/Suez Canal by Ms. Madhavi Arora, Emkay Global Financial Services Below the perspective on Impact of higher freight costs via Red Sea/Suez Canal by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services Oil & Gas: For India Oil & Gas, bulk of the crude & LNG comes through Persian Gulf, hence Red Sea issues wont hamper those flows much. However, Russian oil flows from the Black Sea may be affected and rerouted.   This could also lead to a higher premium for Middle East crude. Overall, there may be some imp...
Perspective on Impact of higher freight costs via Red Sea/Suez Canal by Ms. Madhavi Arora, Emkay Global Financial Services
Perspective on Impact of higher freight costs via Red Sea/Suez Canal by Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-12-27 04:34:19 pm
Note basis the FREIGHTOS data by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services  Below a note basis the FREIGHTOS data by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services.   "Freight rates from Asia have spiked 53% in a month (depending on the route)...plus container shipping giants and oil supermajor BP have halted transit via the Red Sea/Suez Canal route after the attacks (the route assumed even more importance post Ukraine war as Russia shifted its supply largely to Asia post sanctions). We are ending the year with high...
Note basis the FREIGHTOS data by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Note basis the FREIGHTOS data by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-12-23 05:48:11 pm
FOMC Review By Ms. Madhavi Arora, Emkay Global Financial Services Below The FOMC Review by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services. * The market has been looking for a dovish pivot from the Fed, and yesterday it got that. The FOMC statement eased back the language on further hikes, the dots now show three cuts next year, and the post-meeting statement now acknowledges inflation has eased. Chair Powell’s comments at the presser supported this dovish turn, stressing progress on inflation and labor market...
FOMC Review By Ms. Madhavi Arora, Emkay Global Financial Services
FOMC Review By Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-12-14 02:35:32 pm
Perspective On Q2 GDP data By Ms. Madhavi Arora, Emkay Global Financial Services Below the perspective on Q2 GDP data By Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services "GDP reaction The 2QFY24 GDP print at 7.6% has come closer to our forecast at 7.3%, while overshot both consensus (6.8%) and the RBI (6.5%) considerably. The buoyant growth is being underpinned by cyclical factors like robust corporate profits, a strong fiscal impulse, with government spending being front-loaded in a pre-election year, and an boisterous financial sec...
Perspective On Q2 GDP data By Ms. Madhavi Arora, Emkay Global Financial Services
Perspective On Q2 GDP data By Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-30 06:33:53 pm
Perspective on The FOMC Meeting by Ms. Madhavi Arora, Emkay Global Financial Services Below perspective on The FOMC Meeting by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services  “ As widely expected, the Fed unanimously kept rates on hold, retaining its guidance for potential “additional policy firming.” However, the policy message is becoming “more two-sided.” The statement did add that “financial” as well as credit conditions should weigh on the outlook, and in his presser, Chair Powell acknowl...
Perspective on The FOMC Meeting by Ms. Madhavi Arora, Emkay Global Financial Services
Perspective on The FOMC Meeting by Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-11-02 01:11:57 pm
perspective On RBI MPC Announcement By Ms. Madhavi Arora, Emkay Global Financial Services Below perspective On RBI MPC Announcement by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services?The RBI reiterated caution and the current policy narrative is still more hinged to inflation uncertainty and liquidity management than on the fluid and uncertain global narrative as markets reprice ?higher-for-longer?. As global financial conditions transmit with a lag, there could be further volatility ahead. Even as domestic inflation is likely to meet policy targets by...
perspective On RBI MPC Announcement By Ms. Madhavi Arora, Emkay Global Financial Services
perspective On RBI MPC Announcement By Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-10-06 12:38:42 pm
Perspective on CAD by Ms. Madhavi Arora, Emkay Global Financial Services Below Perspective on CAD By Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services?India's 1Q CAD came in line with our expectations. The widening was expected amid higher trade deficit and lower services surplus. However, it was still in the lows of near 1% of GDP and was comfortably funded by robust capital flows. The following quarter (2QFY24) will however see substantial widening of CAD led by sequential worsening of Trade balance, led by higher oil and hig...
Perspective on CAD by Ms. Madhavi Arora, Emkay Global Financial Services
Perspective on CAD by Ms. Madhavi Arora, Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-09-28 04:54:53 pm
India gets green light to join JPMorgan bond index; rupee, bonds gain JPMorgan will include India in its widely tracked emerging market debt index, setting the stage for billions of dollars of inflows into the world's fifth-largest economy and helping it finance its current account and fiscal deficits.India's local bonds will be included in the Government Bond Index-Emerging Markets (GBI-EM) index and the index suite, benchmarked by about $236 billion in global funds, JPMorgan said on Friday.The decision marks a key moment for India, one of the world's fastest ...
India gets green light to join JPMorgan bond index; rupee, bonds gain
India gets green light to join JPMorgan bond index; rupee, bonds gain
Source: Reuters
2023-09-22 02:38:59 pm
India`s corporate tax collections seen in line with budget estimates - Government Official India's corporate tax collections must be looked at over a longer period of time and the full-year numbers are likely to be in line with budget estimates, the country's economic affairs secretary said on Thursday."We should not look at few months' data and try to find a long-term trend over there... my sense is that whatever numbers are there in terms of budget estimates and revenues, those will?be?realised," Ajay Seth told reporters.Corporate tax collections between April and July fell 10% t...
India`s corporate tax collections seen in line with budget estimates - Government Official
India`s corporate tax collections seen in line with budget estimates - Government Official
Source: Reuters
2023-09-14 05:34:39pm