Apr 07 2021, 5:10 PM
April 07 2021, 10:02 AM
April 07 2021, 5:10 PM
(Bloomberg)
(Bloomberg)
Indiaâs central bank took a step toward formalizing quantitative easing, pledging to buy up to 1 trillion rupees ($14 billion) of bonds this quarter to keep borrowing costs low and support the economyâs recovery.
The debt purchases under the program in the secondary market will start from April 15, Reserve Bank of India Governor Shaktikanta Das said Wednesday, after policy makers held the benchmark repurchase rate at a record low 4%, a decision predicted by all 30 economists surveyed by Bloomberg.
Bonds and stocks rallied, with the 10-year bond yield dropping as much as 7 basis points and the S&P BSE Sensex index extending gains to 1.3%. The rupee slid 1.3% against the dollar.
India takes step down QE road with $14 billion bond-buy plan
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Last Updated: Apr 07, 2021, 04:32 PM IST
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Synopsis
The debt purchases under the program in the secondary market will start from April 15, Reserve Bank of India Governor Shaktikanta Das said Wednesday.
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By Anirban Nag and Subhadip Sircar
India’s central bank took a step toward formalizing quantitative easing, pledging to buy up to 1 trillion rupees ($14 billion) of bonds this quarter to keep borrowing costs low and support the economy’s recovery.
The debt purchases under the program in the secondary market will start from April 15, Reserve Bank of India Governor Shaktikanta Das said Wednesday, after policy makers held the benchmark repurchase rate at a record low 4%, a decision predicted by all 30 economists surveyed by Bloomberg.
Australia Central Bank Holds as Housing Surge Comes to Fore
Apr 06 2021, 2:47 PM
April 06 2021, 10:31 AM
April 06 2021, 2:47 PM
(Bloomberg) Australiaâs central bank kept its key policy instruments unchanged Tuesday following the cooling of a global bond selloff and as the impact of record-low interest rates on asset markets comes into focus.
(Bloomberg) Australiaâs central bank kept its key policy instruments unchanged Tuesday following the cooling of a global bond selloff and as the impact of record-low interest rates on asset markets comes into focus.
Reserve Bank of Australia Governor Philip Lowe and his board held the cash rate and three-year yield target at 0.10% and made no changes to the longer-dated bond-buying program. The central bank on Friday releases its semi-annual financial stability review thatâs likely to hone in on lending and housing.
What Bloomberg Economics Says:
“A shrinking virus threat, expanding U.S. stimulus boost, and trillions of dollars in pent-up savings ready to be spent mean the world economy is poised for the fastest expansion on record back to the 1960s.”
–Tom Orlik, chief economist. For full analysis, click here
Read more: World Economy Risks ‘Dangerously Diverging’ Even as Growth Booms
Beyond the much-watched economic report, attention will focus on a Group of 20 finance ministers’ meeting on Wednesday, where officials may decide to extend the Debt Service Suspension Initiative, set to expire in June, through the end of this year. The program has provided $5 billion in debt relief for low-income nations since it began last May, according to World Bank data.
U S Hiring Surge Expected for March With More Growth Ahead yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.