The Reserve Bank of India hiked rates for the first time in nearly four years last week and shifted its stance, signalling more increases, while Governor Sanjay Malhotra on Tuesday said monetary policy cannot be seen as separate from financial stability, prompting traders to ramp up rate hike bets.
The government's ultra-short-term borrowing costs surged on Wednesday, with the premium over the benchmark policy rate reaching a four-year high. The Reserve Bank of India (RBI) raised rates for the first time in nearly four years and signaled more increases to come, prompting traders to increase rate hike bets. The cutoff yields for 182-day and 364-day treasury bills were 6.29% and 6.49%, respectively, marking the highest levels in about 18 months.
The premium, or spread over the 5.5% repo rate, jumped to 79 basis points and 99 basis points for the six-month and one-year notes, levels last seen in November 2022. Analysts suggest that the hawkish policy guidance and latest commentary have raised terminal rate expectations due to resilient growth and higher inflation.
Brief written by urgent.news from The Economic Times - Economy's own syndicated text.
Machine-written — may contain errors; check the original before relying on it.
India’s Tata Technologies posted a 3.6% rise in second-quarter profit on Wednesday, supported by growth in the engineering services firm’s mainstay services segment.
Saudi Arabia's cybersecurity market is projected to hit SAR 16.3 billion in 2025, driven by robust growth and increased public and private sector investment, according to the authority.
(RTTNews) - The UK stock market's FTSE 100 moved modestly higher on Wednesday with stocks turning in a mixed performance amid a lack of fresh earnings or economic data from the home front.
Charlie Lay notes Singapore’s Q3 Gross Domestic Product (GDP) beat expectations at 5.4% year-on-year, with broad-based strength and growth likely near the upper end of the government’s 4.5–5.5%…
EWG, the digital Fintech partner for fiduciary, corporate and fund-services businesses, is working with ClearBank to strengthen the payment infrastructure underpinning its platform and expand the…
(RTTNews) - Financial services firm Morgan Stanley (MS) reported Wednesday that net income applicable to the company's shareholders for the third quarter grew to $4.91 billion or $3.03 per share from…
