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But it’s extraordinary (C-19) situation when sacrosanct parameters have turned impractical - FRBM (deficit <3.5%), inflation targeting (CPI <6%), GDP hygiene (growth >6%). Comfort is from hope of nominal growth rate staying above MCLR in FY22! Lots of if’s & but’s in play!
Good analysis! 1. Lack of demand for debt when viable opportunities don’t exist to provide desired EBITDA 2. Higher demand for funds from GOI 3. RBI set the expectation of operating policy rate = CPI + 1-1.25% 4. Inflation & growth are equally important considerations
Inflation nation: @Breakingviews is joined by @JPMorganAM's chief global strategist, David Kelly, for a discussion on the Federal Reserve’s virtual Jackson Hole symposium and the more recent FOMC meeting
RBI’s monetary policy committee with three new external members would be meeting soon to vote on policy rates. All eyes are on it for announcing a temporary pause on rate cuts given the rise in retail inflation.
"We might be ready to accept inflation higher than 2% for some time”
Is India’s current high inflation transitory or structural? What can we expect going forward? And what policy course should the Monetary Policy Committee set? Read @Rabobank’s Hugo Erken in #BQOpinion.
[email protected] podcast: David Kelly, chief global strategist at @JPMorganAM, suggests that although the Fed may boost inflation, its blunt tools could cause damage
Asset managers who’ve guarded against inflation during a decade of easy money and ballooning deficits have little to show for their efforts
Zambian inflation quickens for the first time in four months in September