Rates european central bank

Representative image China’s GDP growth forecast for 2022 has been cut by Fitch Ratings from 4.8% to 4.3% in the backdrop of rising coronavirus cases in the country, which led to the adoption of policies that restricted mobility in the important commercial hub of Shanghai aside from broader restrictions across the nation. The ratings agency has; however, revised its 2023 growth forecast for China from 5.1 percent to 5.2 percent based on the assumption that Beijing would gradually phase out its ‘dynamic zero-Covid’ policy over the next year. They explained that their forecast is subject to downside risk if containment measures fail to bring new outbreaks under control quickly or if the easing of current restrictions is delayed, and based on the assumption that Beijing would adhere to the ‘dynamic zero’ strictly until 2023. "Spillover to economic activity from Covid-19 pandemic-related disruption became apparent in March, with retail sales falling by 3.5%, the first YoY … [Read more...] about Fitch Ratings cuts China’s 2022 growth forecast amid uptick in COVID-19 cases

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Motilal Oswal's research report on RBL Bank RBL Bank (RBK) reported an in-line quarter with net earnings up 27% QoQ to INR1.98b (+163% YoY) supported by healthy NII as NIM expanded 70bp QoQ along with controlled provisions. Business trends were modest with the loan book growing 3% QoQ, while the deposit book rose 7% QoQ. C/I ratio remained elevated at 60% on higher business expenses. Fresh slippages dipped 19% QoQ to INR6.2b - largely from the Retail portfolio (Credit Cards/MFI). GNPA/NNPA ratio improved 44bp/51bp QoQ to 4.40%/1.34%, respectively. We cut our FY23E/FY24E earnings by 10%/7% as we conservatively built in higher credit cost and opex, and await clarity on the appointment of the MD and CEO. Outlook We expect RBK to deliver an FY24E RoA/RoE of 1.2%/10.3%, … [Read more...] about Buy RBL Bank; target of Rs 160: Motilal Oswal

Representative image The soaring dollar is propelling the global economy deeper into a synchronized slowdown by driving up borrowing costs and stoking financial-market volatility -- and there’s little respite on the horizon. A closely watched gauge of the greenback has risen 7% since January to a two-year high as the Federal Reserve embarks on an aggressive series of interest-rate increases to curb inflation and investors have bought dollars as a haven amid economic uncertainty. A rising currency should help the Fed cool prices and support American demand for goods from abroad, but it also threatens to drive up the import prices of foreign economies, further fueling their inflation rates, and sap them of capital. That’s especially worrying for emerging economies, which are being forced to either allow their currencies to weaken, intervene to cushion their slide, or raise their own interest rates in a bid to buttress their foreign exchange levels. ALSO READ: The Dollar … [Read more...] about Dollar’s strength pushes world economy deeper into slowdown

A Chinese government proposal for a financial stability guarantee fund to safeguard against systemic risks has attracted attention from many parties. Some have differing opinions on how to best resolve the current financial risks related to defaults and debt reduction, especially among property developers. At the direction of the State Council, the People's Bank of China (PBoC) will take the lead in developing the framework for the fund. Also taking part are the National Development and Reform Commission, the ministries of Justice and Finance, the China Banking and Insurance Regulatory Commission (CBIRC), the China Securities Regulatory Commission and the State Administration of Foreign Exchange. Preliminary work is expected to be completed by the end of September. The purpose of the fund is to improve risk prevention and deal with systemic-hidden dangers, a spokesperson for the CBIRC has said. Participants are studying the relevant regulations for the establishment of the fund and … [Read more...] about China debates a financial stability guarantee fund

Representative image Snapping its two-day winning streak, the rupee slumped by 15 paise to end at 77.40 (provisional) against the US dollar on Thursday, following risk-off sentiments amid increasing concerns over inflation globally. Weak domestic equities, surging US dollar in overseas markets and persistent foreign fund outflows also weighed on the rupee which plunged to its all-time intra-day low of 77.63 against the US dollar, forex traders said. Weak domestic equities, surging US dollar in overseas markets and persistent foreign fund outflows also weighed on the rupee which plunged to its all-time intra-day low of 77.63 against the US dollar, forex traders said. At the interbank forex market, the rupee opened steeply lower at 77.52 against the greenback and moved in a range of 77.36 to 77.63 in the day trade. The rupee finally ended at 77.40, down by 15 paise over its previous close. The rupee had settled at 77.25 against the US dollar on Wednesday. On May 9, the … [Read more...] about Rupee recovers from all-time low, settles 15 paise lower at 77.40 against US dollar

Indian markets remained bearish for the the second consecutive week ended May 13 as the benchmark share indices lost nearly 4 percent. Persistent worries over rising inflation, possibility of further rate hikes by global central bank, China lockdown and weakening rupee kept the investors on the edge. During the last week, BSE Sensex declined 2,041.96 points (3.72 percent) to close at 52,793.62, while the Nifty50 shed 629.05 points (3.83 percent) to end at 15,782.20 levels. However, in the month of May Sensex and Nifty have lost more than 7 percent each. During the week gone by, all the sectoral indices were in the red with BSE Metal and Power indices falling 13 percent each. BSE Telecom index shed 6.7 percent and Realty index declined 5.8 percent. In broader market, the BSE Mid-cap index lost 5.6 percent, Small-cap index shed 6.5 percent and Large-cap Index declined 4.4 percent. In absence of any major event, market participants will be closely eyeing the performance of … [Read more...] about Dalal Street Week Ahead | LIC listing, earnings among 10 key factors that will keep traders busy

- A + A SYDNEY (May 16): Asian share markets were struggling to sustain even a minor rally on Monday, after shockingly weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy. China's April retail sales plunged 11.1% on the year, almost twice the drop forecast, while industrial output dropped 2.9% when analysts had looked for a slight increase. The risks had been to the downside, given new bank lending in China hit the lowest in nearly four and half years in April. China's central bank also disappointed those hoping for a rate easing, though Beijing on Sunday did allow a further cut in mortgage loan interest rates for some home buyers. News that Shanghai was relaxing some of its lockdown restrictions offered only cold comfort to investors. Chinese blue chips shed 0.4% in reaction while commodity currencies took a knock led by the Australian dollar, which is often used as a liquid proxy for the yuan. MSCI's … [Read more...] about Asia stocks struggle after dire China data

Representative image After closing at an all-time low against the US dollar on Thursday, the rupee recovered some lost ground to trade at 77.31 against the US dollar in morning trade on Friday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close. On Thursday, the rupee plunged 25 paise to close at its lifetime low of 77.50 against the US currency. Forex traders said the Indian Rupee could see range-bound trade against the US dollar as broad dollar strength could offset losses from a rate hike by the Indian central bank next month due to rising domestic inflation. India's headline inflation galloped for a seventh straight month to touch an 8-year high of 7.79 per cent in April on rising food and fuel prices, raising the odds of an interest rate hike by the RBI early next month to … [Read more...] about Indian rupee rebounds from all-time low; rises 19 paise to 77.31/USD

- A + A LONDON (May 15): Bitcoin staged a modest recovery to trade just below US$30,000, extending a period of relative market calm after the collapse of a closely watched stablecoin roiled digital assets in the past week. The largest cryptocurrency advanced 1.1% to US$29,670 at 10.40am in London. Ether, the second-biggest token, rose 1.9% while coins like Avalanche and Cardano posted larger gains. Bitcoin dipped to a low of US$25,425 on Thursday after the TerraUSD algorithmic stablecoin unravelled, throwing the entire ecoystem that supports it into disarray. At its height, the market panic engulfed the US$76 billion stablecoin Tether, a key cog in crypto assets that briefly dipped from its dollar peg. "We have witnessed the rapid decline of a major project, which sent ripples across the industry, but also a new found resiliency in the market that did not exist during the last market downswing," Changpeng Zhao, chief executive officer of crypto exchange … [Read more...] about Bitcoin trades below US$30,000 as markets digest TerraUSD fallout

Representative image ICICI Direct's currency report on EURINR Euro depreciated by 1.27% yesterday amid strong dollar and risk aversion in the global markets. Further, euro slipped on concern about lingering stagflation environment of slow growth and high prices. On top of its Russia unveiled a set of sanctions on energy companies operating on the continent threating supply • Euro is expected to trade with negative bias on the back of strong dollar, expectation of disappointing economic data from euro area and gloomy global market sentiments. Market sentiments are hurt on worries over repercussion of ongoing war in Ukraine and strict lock down in China. Further, market fears that major central banks efforts to bring inflation under control will hamper economic growth. Additionally, ECB is likely to raise interest rates gradually not at the same pace as US Fed. EURINR (May) is expected to trade in a range of 80.45-80.90. Intra-day strategy EURINR May futures … [Read more...] about Sell EURINR; target of : 80.45 : ICICI Direct