Gold Silver Reports → India’s central bank lowered its key interest rate for the first time in six months and said it would look for more room to ease as it watches monsoon rains.
Economic
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Uptick In The Economic Environment
Gold Silver Reports — A 25 basis points cut in the policy interest rates by the Reserve Bank of India (RBI) is almost given, but the real impact of falling lending cost can be felt only if the central bank goes in for a bold reduction of at least 50 bps, an overwhelming majority of CEOs polled in an ASSOCHAM survey pointed out.
Jobs Data Keep Fed on Slow Rate Path
Gold Silver Reports ~ The dollar fluctuated after a jobs report bolstered speculation that U.S. policy makers will proceed cautiously on plans to raise interest rates.
GDP Misses Forecasts, Don’t Blame The Economists
Gold Silver Reports ~ If you had to make a bet on how Canada’s economy was going to fare in the future, you’d be better off putting your money on private-sector economists’ predictions than the forecasts of the federal government.
Is The Authenticity Of GDP Data Questionable?
Gold Silver Reports ~ While recent GDP readings have showed inconsistency repeatedly, investors should not ignore GDP readings totally, said IHS chief economist Nariman Behravesh.
But there are at least three different problems with the GDP data series. The first is seasonality; there are huge swings in seasonality – for instance the first-quarter data is almost always underestimated. The government doesn’t seem to know how to deal with the first-quarter GDP data – whether it’s bad weather or something else.
India’s Loan Growth Has Few Believers
Gold Silver Reports ~ A rebound in loan growth to a 20-month high sounds like good news for Indian banks as they struggle to shake off the impact of a surge in bad debts. But a deeper dive into the reasons behind the revival shows it may be unsustainable.
Fed Statement Reports “Weak” Economic Growth
Gold Silver Reports ~ Gold snapped a three-day losing streak after Federal Reserve officials held off from raising borrowing costs and scaled back forecasts for how high interest rates will rise this year.
ECB Pulls Out All Stops With Rate Cuts
Gold Silver Reports ~ The European Central Bank unleashed some of it last remaining stimulus weapons on Thursday, cutting all three of its interest rates and expanding asset-buying to boost the economy and prevent ultra-low inflation becoming entrenched.
Great Expectations
Gold Silver Reports – Total revenue is projected to rise 11 percent next year, more than the average during the past three years. Spending on roads and ports is slated to rise 15 percent
India Revenues
Gold Silver Reports – Meeting next year’s fiscal deficit target hinges on enhanced revenue from a recovery in corporate profitability and rural consumption,