Treasury Secretary Janet Yellen said President Joe Biden should push forward with his $4 trillion spending plans even if they trigger inflation that persists into next year and higher interest rates.
India’s central bank will buy Rs 1.2 lakh core ($16.4 billion) of bonds under its government-securities-acquisition programme in the July-September quarter, Governor Shaktikanta Das said.
Gold Price Analysis: Gold inches closer to the $1,800 threshold, refreshing weekly top to $1,788.31 by the press time of early Thursday. In doing so, the yellow metal takes the bids for the second consecutive day on the weaker US dollar. Recently propelling the commodity prices are the comments from US President Joe Biden.
RBI Bond: The Reserve Bank of India’s pledge to buy as much as 1 trillion rupees ($13.4 billion) of bonds this quarter has sent a wave of relief through the sovereign debt market. However, some say the move may be insufficient in the face of the nation’s near-record borrowing plan.
The Bombay high court has granted time to the Reserve Bank of India (RBI) and market regulator Securities and Exchange Board of India (Sebi) to file responses in a petition filed by individual holders of Yes Bank AT1 bonds.