Federal Reserve issues FOMC statement – September 26, 2018

Information received since the Federal Open Market Committee met in August indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly.

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India’s Wholesale Inflation Hits Eight-Month Low In March

Gold Silver Reports (GSR) – India’s Wholesale Inflation Hits Eight-Month Low In March – India’s wholesale price inflation eased to an eight-month low in March on the back of softer rise food prices — Inflation measured by the Wholesale Price Index stood at 2.47 percent last month, compared with 2.48 percent in …

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RBI Gold News

RBI delaying year-end bonuses to the heads of top private banks — HDFC, ICICI and Axis Bank

Gold Silver Reports (GSR) – RBI delaying year-end bonuses to the heads of top private banks — HDFC, ICICI and Axis Bank — Chief executive officers at HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd. —the nation’s largest private lenders by assets — are among bankers yet to receive bonuses for the financial year ended 31 March 2017, as the Reserve Bank of India hasn’t signed off on the proposed payments, the people said, asking not to be identified as the information is private. They declined to give further details. Business Standard newspaper had previously reported the delays.                               

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Inflation has Been Ticking Lower

Gold Silver Reports (GSR) – Money Market Update – Inflation has been ticking lower, but the RBI expects it to inch up in coming months amid rising fuel and vegetable prices. Traders will also watch out for whether the central bank allows foreigners to up their investments in government bonds, a move which is likely to fuel a further rally in the market.

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India’s ‘Macro Concerns’ Will Hold Nifty Below 11,000, CLSA Says

Gold Silver Reports (GSR) – India’s ‘Macro Concerns’ Will Hold Nifty Below 11,000, CLSA Says – NSE Nifty 50 Index won’t cross the 11,000 level in 2018 as concerns about the revenue and fiscal deficits, higher oil price and inflation, new taxes on equity gains and political uncertainties will continue to linger on and impact returns, CLSA India Pvt. said in an investor note Monday.

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