US FEDERAL RESERVE

  • Rupee slumps 39 paise to end at 61.34 Vs US dollar March 20, 2014

    Mumbai: The rupee on Thursday depreciated 39 paise, logging its biggest daily loss in nearly two months, to end at 61.34 versus the dollar on fears of capital outflows from emerging markets after Federal Reserve chief signalled a sooner than expected hike in US benchmark interest rates. On Wednesday night, Federal...
  • Sensex loses 93 points to end at 21,740.09 March 20, 2014

    Mumbai: The benchmark Sensex on Thursday closed 93 points down at its lowest level in two weeks on selling in banking, capital goods and power shares in line with weakness in global markets rattled by fears that the US Fed may hike interest rates sooner-than-expected. The Sensex, which had gained 58.25...
  • Gold steady, but set for biggest annual loss in three decades December 26, 2013

    Gold was little changed on Thursday in thin yearend trade, but looked set to post its biggest annual loss in more than three decades as rallying equities and optimism about a global economic recovery dented its safehaven appeal. Worries this year that the US Federal Reserve will begin unwinding its stimulus...
  • Rupee down 30 paise against dollar in early trade December 13, 2013

    Mumbai: The rupee fell by 30 paise to trade at 62.13 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market on strong demand for the American currency from importers. The domestic unit had lost 58 paise to close at 61.83 against the dollar in the...
  • Rupee up 70 paise, closes at 62.41 versus US dollar November 18, 2013

    The rupee notched up its biggest singleday gain in nearly seven weeks on Monday, buoyed by hopes strong foreign fund flows would support local markets as global risk assets got a boost from China's ambitious economic reforms agenda and monetary stimulus in the United States looked set to continue. The BSE...
  • GDP growth seen between 55.5 pc in 2013/14, says Chidambaram November 15, 2013

    India is likely to achieve an economic growth of between 55.5 per cent in this fiscal year, the finance minister said on Friday, despite wide expectations of growth slipping below 5 per cent by private economists. India's growth slowed to 5 percent in the 2012/13 fiscal year that ended in March,...
  • RBI Governor Raghuram Rajan may raise policy rates yet again September 23, 2013

    Reserve Bank of India Governor Raghuram Rajan may raise policy rates again after shocking markets by increasing them in only his first meeting, signalling he is willing to risk prolonging what is already the lowest economic growth in years in order to quash persistent inflation. Raising the repo rate by 25...
  • The Last Word: Has the US federal reserve move brought an end to India's economic worries? September 19, 2013

    The rupee surged 2.6 per cent on Thursday, hitting its highest in nearly five weeks, as the US Federal Reserve's decision not to dial back its easy money policy is expected to provide a reprieve to the Reserve Bank of India (RBI) in its policy making....
  • After US Fed's move, rupee rallies to near 5-week high, closes at 61.77 September 19, 2013

    The rupee surged 2.6 percent on Thursday, hitting its highest in nearly five weeks, as the US Federal Reserve's decision not to dial back its easy money policy is expected to provide a reprieve to the Reserve Bank of India (RBI) in its policy making. The rupee, which was among the...
  • SBI increases its minimum rate of lending to 9.80 per cent September 19, 2013

    The SBI on Thursday increased its minimum rate of lending to 9.80 per cent and made the loans costlier. ...
  • US Fed surprises, sticks to stimulus as it cuts growth outlook September 19, 2013

    The US Federal Reserve defied investor expectations on Wednesday by postponing the start of the wind down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth. Investors responded by propelling US stocks to record highs and driving down bond yields. Yields on US Treasury debt...
  • SBI increases its minimum rate of lending to 9.80 per cent, makes loans costlier September 19, 2013

    The country's largest lender, State Bank of India, on Thursday said it increased its base rate, or the minimum rate of lending, to 9.80 per cent, a day ahead of the RBI's policy review. "State Bank of India has revised the base rate by 0.10 per cent from 9.70 per cent...
  • US Federal Reserve surprises, sticks to bond-buying stimulus as it cuts growth outlook September 19, 2013

    The US Federal Reserve defied investor expectations on Wednesday by postponing the start of the wind down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth. Investors responded by propelling US stocks to record highs and driving down bond yields. Yields on US...
  • PMEAC Chairman Rangarajan for curbs on speculation to check rupee fall August 6, 2013

    New Delhi: Speculative activities in the forex market should be curbed and shortterm measures are needed to take corrective action to arrest the fall in the rupee, which hit an alltime low, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said on Tuesday. The rupee dropped to a record low...
  • Asian shares rally, dollar remains weak September 14, 2012

    Asian shares rose to a fourmonth high on Friday while the dollar remained weak against other major currencies after the US Federal Reserve announced an aggressive new stimulus to drive job creation in the US economy. ...
  • Gold hits 4 month high on US Fed stimulus hopes August 27, 2012

    Singapore: Gold rose to the loftiest level since midApril on Monday, extending strong gains from last week as expectations for further monetary easing from the US Federal Reserve kept sentiment buoyant. The Fed had room to deliver additional monetary stimulus to stoke economic growth, said the central bank's chief Ben Bernanke,...
  • Bernanke offers gloomy view on US economy July 18, 2012

    Washington: Federal Reserve Chairman Ben Bernanke on Tuesday offered a gloomy view of the economy's prospects, but provided few concrete clues on whether the US central bank was moving closer to a fresh round of monetary stimulus. Bernanke told the Senate Banking Committee the economic recovery was being held back by...
  • Citi, 3 other major US banks fail stress tests March 14, 2012

    Washington: All but four of 19 major US banks got a green light on Tuesday from the Federal Reserve to boost their dividends and take other steps that will make their stocks more attractive to investors. The Fed declared them strong enough to survive a downturn worse than the Great...
  • Cupid targets US central bank with early Valentine tweets February 11, 2012

    Washington: It isn't often you see the words "love", "romance", and "Federal Reserve" in the same sentence. But on Friday, the US central bank and many economists who spend countless hours monitoring its decisions began their Valentine's Day flirtations a bit early. It started with Justin Wolfers, an economist at the University...
  • Eurozone crisis: Joint action by 6 Central banks November 30, 2011

    New Delhi: Central banks from six developed nations had to resort to coordinated action on November 30 to ensure that the European debt crisis did not fundamentally destablise the global financial system. Europe's rolling debt crisis continues to trouble economies and markets. To prevent a lack of liquidity in the global...
  • Asia stocks gain on Fed hopes, China PMI firms September 1, 2011

    Melbourne: Asian stocks pushed higher in early trade on Thursday in line with a firmer tone on Wall Street, extending a recovery from a sharp selloff in August on hopes the US Federal Reserve will intervene in markets to support the economy. Global markets have gained strength in recent days, rebounding...
  • US Fed to pump in $ 600 bn into the economy November 4, 2010

    New York: In its latest move to jump start the sluggish recovery, the Federal Reserve announced it will pump billions into the economy. The central bank will buy $ 600 billion in longterm Treasuries over the next eight months, the Fed said on Wednesday. The Fed also announced it will reinvest...
  • Bernanke is Time magazine's Person of the Year December 16, 2009

    New York: Federal Reserve Chairman Ben Bernanke was named Person of the Year by Time magazine on Wednesday, a highly visible show of support at a time he seeks to beat back proposals that would erode the central bank's authority and independence. Time credited Bernanke with creative leadership that ensured 2009...
  • US economy to 'turn up' this year: Bernanke May 5, 2009

    Washington: Federal Reserve Chairman Ben Bernanke told Congress on Tuesday the threeyear US housing bust may be near a bottom and that he expected the recession to end this year barring a relapse of the financial crisis. Bernanke sounded more confident than he had in recent weeks that the pieces were...
  • US stimulus could end recession this year : Bernanke February 25, 2009

    Washington: If massive government action to revive the US economy is successful, the recession affecting the world's largest economy could begin to turn around this year, Federal Reserve Chairman Ben Bernanke said on Tuesday. Testifying before the US Senate Banking Committee, the central bank chairman said the government stimulus is essential...
  • Fed sees US eco contracting between 0.51.3% in '09 February 19, 2009

    The US Federal Reserve cut its forecast for the US economy for the current year on Wednesday. As a result, the US markets ended flat, inspite of a positive opening on the back of President Barack Obamas new $75 billion plan to fight the housing crisis. Earlier in the day, Obama...
  • Citibank survives after US Fed's biggest bailout yet November 25, 2008

    The US government moved to bail out Citigroup Inc, agreeing to shoulder most potential losses from $306 billion of its toxic assets and inject $20 billion of new capital. This is the Fed's biggest effort yet to prevent a big bank from failing. Obviously, Citibank is too big to be allowed...
  • US Fed cuts rates by half point to combat crisis October 30, 2008

    Washington: The Federal Reserve cut US interest rates by a halfpercentage point on Wednesday to the lowest level since June 2004 as it tried to stave off a prolonged recession, and left the door open to further reductions if needed. The Fed's unanimous decision takes its target for overnight bank...
  • World markets fall | Indian markets sink | Markets close October 24, 2008

    Singapore: World stock markets tumbled on Friday on growing alarm that a global recession will ravage corporate profits. In Japan, shares of Sony sank more than 14 per cent after it slashed its earnings forecast for the fiscal year. In Germany, Daimler's stock dropped 11.4 per cent in morning trading after...
  • US Fed Reserve slashes interest by half pc October 8, 2008

    New Delhi: A worried US Federal Reserve slashed interest rates by half per cent on Wednesday to support the faltering US economy. This is a departure from the Fed Reserve's earlier stand that lowering rates would have little effect in boosting economic activity while credit markets are frozen. It's not just...