In case both CPI and GDP numbers undershoot RBI projections, then Wednesday’s rate hike could well turn out to the last rate hike this cycle We haven’t seen the end of this yet. Although the Reserve Bank of India’s monetary policy committee (MPC) hiked the policy rate by 25 basis points as widely expected, governor Shaktikanta Das’s statement was hawkish and seemed to indicate that the end of the rate hike cycle is not nigh. Whether this will translate into a rate hike during the next monetary policy assessment in April or imply a pause, which could be followed by later rate hikes, is something that... … [Read more...] about Monetary Policy Statement: Das strikes a hawkish note
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The central bank's commentary has a hawkish undertone and suggests that more interest rate hikes cannot be ruled out. Dear Reader, The Panorama newsletter is sent to Moneycontrol Pro subscribers on market days. It offers easy access to stories published on Moneycontrol Pro and gives a little extra by setting out a context or an event or trend that investors should keep track of. The RBI’s Monetary Policy Committee met market expectations by increasing the repo rate by 25 basis points, although it left some prayers unanswered. The fond hope was that the MPC would take its cue from global central banks and announce a pause on rate increases. The consolation is that two of the six MPC members didn’t want to raise rates. Nevertheless, the central bank's commentary has a hawkish undertone and suggests that more interest rate hikes cannot be ruled out. This is against what some global central banks have said. The Bank of Canada became the first central bank in a G10 … [Read more...] about Moneycontrol Pro Panorama | MPC plays it safe, more rate hikes coming?
A number of tax reliefs to the middle class during the Union Budget 2023 lifted the market higher on February 1 as it will leave people with more money in their hands thus boosting consumption. Nifty 50 rose 1.55 percent to 17,936.60 while BSE Sensex climbed 1.75 percent to 60,594.46. Among the biggest gainers were ICICI Bank, Tata Steel, L&T, HDFC, and JSW Steel. Adani Enterprises, HDFC Life Insurance, and SBI Life Insurance were the top losers. “Tax exemptions under the new tax regime will provide increased disposable income in the hands of salaried consumers which will help boost demand for small and large home appliances thus benefiting Havells, Bajaj Electricals, V-Guard, etc,” said analysts at ICICI Securities. BSE Consumer Durables zoomed 1.3 percent while BSE Capital Goods was up 2.21 percent. Barring indices dedicated to Power, Utilities, and Energy, all sectoral or thematic indices rose after the budget announcement. In the new tax regime, the government … [Read more...] about Budget 2023: Tax tweaks, record capex lift Sensex, Nifty higher
Google CEO Sundar Pichai [REUTERS/YONHAP] Amid the accelerated rivalry for artificial intelligence (AI) leadership between Microsoft and Google, Korea's tech companies are eyeing the non-English speaking countries with their capabilities in search engine and messenger services. Whereas the ChatGPT — a free chatbot system capable of generating conversational dialogue — displays a surprising level of sophistication in response to English language prompts, the Korean version of its service is lacking. And that might leave an opening for a niche market for local competitors. On Tuesday, Microsoft said that it will incorporate Open AI’s GPT technology into its Bing search engine. “This technology is going to reshape pretty much every software category that we know,” said Microsoft CEO Satya Nadella. The updated version of Bing will have a conversational interface similar to ChatGPT. The goal is to have the unpopular search engine compete against Google. Microsoft CEO … [Read more...] about As AI war rages, Korea seeks a place among giants
Share to Twitter Share to Linkedin Krishna Motukuri, CEO & cofounder of Zippin , a leading provider of checkout-free technology for retailers. Many of the biggest technology headlines in 2022 were about artificial intelligence (AI). Commercial and enterprise applications of generative AI such as ChatGPT are already making a big splash in 2023, but what about the retail industry? Here, the impact of AI is likely to widen and deepen this year. AI in particular may have an outsized impact on physical stores. It can be easy to forget that, amidst all the talk about e-commerce, most people still do the vast majority of their shopping in bricks and mortar stores. In 2022, physical stores still accounted for 87% of total retail sales in the U.S. Online retail continues to grow, but the bump in adoption caused by the pandemic has fallen back significantly and growth has slowed. This is especially true in food retail, where it has been estimated … [Read more...] about Why AI And Checkout-Free Technology Will Grow In 2023
Share to Twitter Share to Linkedin Hogwarts Legacy has been mired in controversy since the day it was announced, largely thanks to the rancor surrounding Harry Potter author J.K. Rowling and her feud with the trans-rights activists. Rowling has alienated large swaths of her fanbase and, in some ways, fanned the flames of an already red-hot debate. As I’ve noted in the past, I think this is all quite bizarre and the Harry Potter fan in me wishes that Rowling had stayed out of the fray. She could have funded whatever political causes she wanted without popping off on Twitter, if only because someone in her position should stand as a role model and hero for all her fans—not just some of them. I also think the reaction to Rowling’s opinions has often been over-the-top and counterproductive and never has this been more true than the rigid, strident and often unreasonable position many have taken on Hogwarts Legacy. It’s fine to vote with your wallet, but … [Read more...] about The ‘Hogwarts Legacy’ J.K. Rowling Boycotts Were A Mistake
Share to Twitter Share to Linkedin Following the Kansas City Chiefs’ 44-21 victory against the Arizona Cardinals in Week One, several of the Chiefs defensive backs sauntered back to the buses at State Farm Stadium. Before those buses whisked them off to the airport, their position coach, Dave Merritt, told them to remember the stadium. “We’re going to be back here,” Merritt said. “We mentioned it back then. Praise God — then it came true.” Indeed the Chiefs’ season has come full circle in blessed fashion. They will end it where they started it — at State Farm Stadium in Glendale, Ariz., when they face the Philadelphia Eagles there on Sunday in Super Bowl LVII. In their impressive 14-3 campaign, the Chiefs’ win against the Cardinals on Sept. 11 represented their largest margin of victory. Patrick Mahomes, a spokesman for the insurance company with the naming rights to the stadium , threw for a season-high five touchdowns, and the Chiefs were … [Read more...] about The Kansas City Chiefs Are Beginning And Ending Season At State Farm Stadium