Federal Reserve

  • Government cuts import tariff value on gold, silver June 2, 2014

    New Delhi: Government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally. In the second fortnight of May, tariff value on imported gold stood at $424 per 10 grams and silver at...
  • 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...
  • Inflation views aligned with government, says Raghuram Rajan February 24, 2014

    Reserve Bank of India (RBI) Governor Raghuram Rajan said the government and the Reserve Bank of India (RBI) shared similar views on inflation management, while reiterating a call for the US Federal Reserve to be more sensitive to emerging economies. Rajan's comments, in an interview with CNBC, come after Finance Minister...
  • No abrupt changes to US monetary police, Fed to keep trimming stimulus: Janet Yellen February 12, 2014

    Janet Yellen, fresh from taking the helm of the Federal Reserve, made it clear on Tuesday she would not make any abrupt changes to US monetary policy, saying the central bank was on track to keep reducing its stimulus even though the labor market recovery was far from complete. In her...
  • Steady economic growth expected as Janet Yellen makes Fed debut February 10, 2014

    Janet Yellen's first test as chair of the Federal Reserve comes on Tuesday when she faces US lawmakers, some hostile to the central bank, who will want to know how committed she is to winding down the Fed's support for the economy. With the world's financial markets watching, Yellen, who succeeded...
  • Markets need not worry about Fed taper, Government vigilant: Chidambaram January 30, 2014

    The Finance Ministry today said the US Federal Reserve's decision to trim its monetary stimulus will not affect the Indian markets and all steps would be taken by the RBI and the government to ensure financial stability. "Both the government of India and the Reserve Bank of India will continue to...
  • Global economy to grow in 2014: World Bank February 11, 2014

    The global economy is estimated to expand at 3.2 per cent this year from 2.4 per cent in 2013, with growth picking up in developing countries and high-income economies, the World Bank said. But growth prospects remain vulnerable to US tapering, the global lender said in its semi-annual Global Economic Prospects...
  • US Senate Janet Yellen to become first woman head of Federal Reserve January 7, 2014

    Janet Yellen will take the helm of a Federal Reserve facing a significantly different economic landscape than the one that dominated Ben Bernanke's tenure as chairman, confronting her with different decisions as well. Bernanke's eight years leading the Fed were largely consumed with the Great Recession and his efforts to cure...
  • Gold steady, but set for biggest annual loss in three decades December 26, 2013

    Gold was little changed on Thursday in thin year-end 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 safe-haven appeal. Worries this year that the US Federal Reserve will begin unwinding its stimulus...
  • Gold drops to six-month low, could fall further December 20, 2013

    Singapore: Gold languished at a six-month low on Friday and was on the edge of tipping over to a 3-1/2 year trough after the Federal Reserve's move to curb its bond-buying stimulus prompted a huge sell-off. This week's loss puts the metal firmly on track to post its biggest annual...
  • India better prepared to deal with US tapering, says P Chidambaram December 19, 2013

    Attempting to soothe the stock markets, Finance Minister P Chidambaram on Thursday said India is better prepared to deal with the situation arising out of a cut in US bond purchases and markets have already factored in the impact of such a move. "The government is of the view that the...
  • 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 single-day 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 5-5.5 pc in 2013/14, says Chidambaram November 15, 2013

    India is likely to achieve an economic growth of between 5-5.5 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 20, 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...
  • Gold extends gains to fresh two-month highs August 16, 2013

    Gold reversed early losses on Friday, hitting fresh two-month highs on strong buying from China and short covering after breaking through key technical levels, pushing the metal to its biggest weekly gain in a month. Gold dipped early in Asian hours after strong US data indicated the Federal Reserve could soon...
  • 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 short-term measures are needed to take corrective action to arrest the fall in the rupee, which hit an all-time low, Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan said on Tuesday. The rupee dropped to a record low...
  • Ben Bernanke tells Congress Fed flexible on bond buying July 18, 2013

    Washington: Federal Reserve Chairman Ben Bernanke said on Wednesday the US central bank still expects to start scaling back its massive bond purchase program later this year, but he left open the option of changing that plan if the economic outlook shifted. While sticking closely to a timeline to wind down...
  • Sensex ends 180 points up; reclaims 20,000 mark July 18, 2013

    Mumbai: Boosted by fag-end buying spurt, the benchmark S&P BSE Sensex today reclaimed the 20,000-mark with a 180-point boost on hopes of continued earnings momentum amid assurances by US Fed about maintaining its stimulus programme. Bluechips including HDFC Bank, ONGC, Infosys, L&T, Bharti Airtel, HDFC, ICICI Bank and SBI together added...
  • Rupee falls ahead of RBI's OMO debt sale July 18, 2013

    Mumbai: The rupee weakened on Thursday after the dollar gained modestly after Federal Reserve Chairman Ben Bernanke said the central bank would be flexible about its US monetary stimulus. Investors are looking ahead at a planned open market operation sale of 120 billion rupee from the Reserve Bank of India later...
  • Rupee opens at 59.75 per dollar, down by 8 paise July 12, 2013

    Mumbai: Rupee has opened at 59.75 per dollar on Friday, down by 8 paise compared to previous day's closing value of 59.67 per dollar. Pramit Brahmbhatt of Alpari said the rupee is likely to trade in positive zone on Federal Reserve's statements, a weak dollar and positive equity markets. According to him,...
  • Gold recovers as Chinese buyers emerge, shares slump June 21, 2013

    Singapore: Gold recovered from a three-year trough on Friday as lower prices attracted Chinese buyers and as Asian stocks fell, but the metal was still headed for its worst week in nearly two years after the Federal Reserve said it would curb stimulus. Gold for immediate delivery dropped over 5 per...
  • Rupee sinks 90 paise to record closing low of 58.77 June 18, 2013

    Mumbai: Resuming its downfall, the rupee on Tuesday sank by a whopping 90 paise to all-time closing low of 58.77 on massive dollar buying by banks and importers as forex markets became jittery ahead of Fed's decision on continuing monetary stimulus. Capital outflows also affected the market sentiment with FIIs offloading...