Fitch Solutions sees RBI holding rates through FY22
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Firm revises fiscal year inflation forecast to 5%, from 4.6%
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Firm revises fiscal year inflation forecast to 5%, from 4.6% Fitch Solutions sees RBI keeping benchmark interest rates unchanged during the fiscal to March 2022 following its decision to buy ₹1 lakh crore of government bonds. “We had initially expected another policy rate cut to arrest the rise in government bond yields since the Union Budget announcement in February. “However, having an explicit bond purchase guidance from the RBI following the announcement of the G-SAP will also achieve a similar effect, if not even be more effective than a rate cut on capping the increase in bond yields,” it said.
James Emejo aggregates analystsâ perspectives on Nigeriaâs recent exit from recession and concludes that more efforts are required by the fiscal and monetary authorities to strengthen recovery in subsequent quarters
Perhaps, it was no music to the ears to many when the countryâs economic managers projected last year that the countryâs second consecutive economic recession which happened in the third quarter, would be short-lived.
This is understandably so because the slow progress in getting out vaccines that could put an end to the COVID-19 pandemic, which had ravaged the global economic landscape among other things.
The economy slipped into a recession in November last year when growth contracted for the second consecutive quarters by 3.62 per cent in Q3 and previously grew by-6.10 per cent in Q2.
ASX to rise, European shares rally on copper, oil
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Check out who’s reporting today on the AFR reporting season calendar.
The ASX rises 0.9 pc on Monday, buoyed by Zip, Nearmap. Read our story here.
Follow today’s ASX action on our Markets Live blog here.
Australian shares are set to open higher, as miners paced gains in Europe with copper reaching its highest in eight years and oil rising to its highest in 13 months.
ASX futures were up 22 points or 0.3 per cent to 6827 near 8am AEDT. The currency was 0.3pc higher.
On today’s reporting season schedule: BHP, Brambles, NAB first quarter, and Western Areas. Check out the full list here.
Fitch Ratings has predicted that Nigeria’s external reserves would rise to $42 billion in 2021, higher than the $35.374 billion it stood at the end of 2020. This is according to figures obtained from the website of the Central Bank of Nigeria (CBN).