Global Economic
Draghi Ends ECB Bond-Buying Era Saying Economy Can Beat Risk
Gold Silver Reports (GSR) – Draghi Ends ECB Bond-Buying Era Saying Economy Can Beat Risk — Mario Draghi said the euro-area economy is strong enough to overcome increased risk, justifying the European Central Bank’s decision to halt bond purchases and close an extraordinary chapter in the decade-long struggle with financial crises and recession. The euro fell after the central bank also pledged to keep interest rates unchanged at current record lows at least through the summer of 2019, a longer timeframe than investors had priced in. Policy makers will phase out bond purchases by the end of this year in what Draghi described as a unanimous decision.
Rate Hike Face to Face Open – Neal Bhai Reports INDIA
Rate Hike Face to Face Open – Neal Bhai Reports INDIA
Goldman Sachs Chief Economist on the Future of Fed Rate-Hikes
Gold Silver Reports (GSR) – CNBC’s Steve Liesman reports on the Federal Reserve’s decision to raise rates by 25 basis points.
The move pushes the funds rate target to 1.75 percent to 2 percent. The rate is closely tied to consumer debt, particularly credit cards, home equity lines of credit and other adjustable-rate instruments.
Powell Lauds Economy as Fed Nudges Up Interest-Rate Hike Path
Gold Silver Reports (GSR) – Powell Lauds Economy as Fed Nudges Up Interest-Rate Hike Path — Federal Reserve officials raised interest rates for the second time this year and upgraded their forecast to four total increases in 2018, as unemployment falls and inflation overshoots their target faster than previously projected.
Petrol and Diesel Prices Updates
Gold Silver Reports (GSR) – Petrol and diesel prices were cut by 20 paise and 16 paise respectively today. Petrol now costs Rs 84.41 in Mumbai and diesel costs Rs 72.35, according to the data available on Indian Oil Corporation Ltd.’s website.
India Likely to Meet Fiscal Deficit Target of 3.3%: Moody’s
Gold Silver Reports (GSR) – India Likely to Meet Fiscal Deficit Target of 3.3%: Moody’s — Rating agency Moody’s said on Thursday that it expects India to meet its fiscal deficit target of 3.3% of GDP for FY19, on the back of commitment to fiscal consolidation and attainable budgetary targets.