MACRO ECONOMIC NEWS

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Macro Economic News 03 Aug 2019

 

The Reserve Bank of India (RBI) is likely to cut rates next week for a fourth time in 2019 as benign inflation gives it room to help an economy that is growing at its slowest in nearly five years. US Employers added jobs at a steady pace in July and unemployment held at a historically low level, providing a solid foundation for the decadelong U.S. expansion at a time of global headwinds. China vowed to fight back against U.S. abrupt decision to slap 10% tariffs on the remaining $300 billion in Chinese imports, a move that ended a month-long trade truce. Thousands of civil servants joined in the anti-government protests in Hong Kong for the first time since they started two months ago, defying a warning from the authorities to remain politically neutral.  

 

FINANCIAL TIMES

[I]  US-China trade tensions hit global markets

[I]  US pulls out of nuclear arms control pact with Russia

[I]  China vows to retaliate over Trump’s trade tariffs

[I]  Trump tariffs increase pressure on Fed to cut rates

[I]  Nervous UK plc battens down the hatches for no-deal

[I]  Central banks should consider giving people money

 

REUTERS

[I]  India's summer crop planting down 6.6% from last year, likely to pick up

[I]  EU settles on World Bank's Georgieva to lead IMF

[I]  Good money after bad? India's bank rescue plans keep coming

[I]  India seen set for fourth interest rate cut of 2019

[I]  China vows fight against Trump's latest tariffs as stocks sink

[I]  Thousands of Hong Kong civil servants defy government to join protests

[I]  U.S. withdraws from Soviet-era nuclear missile accord with Russia

[I]  U.S. hiring slows; shorter factory workweek a red flag

[I]  U.S. economy is adding plenty of jobs, but not hours for workers

 

BLOOMBERG 

[I]  Pay Up, Oil Traders. Trump’s Steel Tariffs Now Affect You Too

[I]  Fed Rate-Cut Dissenters Cite Strong Employment, Financial Risks

[I]  Trump Officials Still Pushing for a Coal Bailout, Regulator Says

[I]  Big Oil's Big Bet on Natural Gas Has Been a Big Headache

[I]  Never-Ending Trade War Sinks Commodities Into a World of Trouble

[I]  Is the ‘Powell Put’ Enough to Counter Trump’s Trade War?

[I]  China Turns Back to Brazilian Beans After Trade War Escalation

[I]  U.S. Steel Sinks After Doubling Down on Spending Amid Cash Burn

[I]  Oil Market Struggles to Shake the Ghost of Crashes From the Past

[I]  U.S. Consumer Sentiment Held Up in July on Brighter Outlook

 

WALL STREET JOURNAL

[I]  U.S. Added Jobs at Steady Pace in July

[I]  Jobs Report Does Little to Clarify Fed Outlook Muddled By Escalated Trade Tensions

[I]  Tariff Fight Knocks Off China as Top U.S. Trading Partner

[I]  U.S. Consumers Remained Positive in July

[I]  China’s Power to Boost Global Economy Is Fading

[I]  Two Fed Officials Say Economy Didn’t Justify Lowering Rates

 

BUSINESS LINE

[I]  Affordable housing gets a ₹10,000-crore booster

[I]  Global cotton prices down 26% on weak demand

[I]  Kharif coverage down 6.6% despite improved rainfall

[I]  Rainfall profile of country to improve in second week of August

[I]  For pulses security, planners need to rethink restrictive policies

[I]  Iran is hot favourite for Indian cotton exporters

 

ECONOMIC TIMES

[I]  5 reasons why the economy is slowing down

[I]  Forex reserve falls by $727 million to $429.6 billion

[I]  Anti-dumping duty likely on certain type of steel from Brazil, China, Germany

[I]  India slips to 7th largest economy in 2018: World Bank

[I]  Why even Rs 3.2 lakh crore taxpayers money in 4 years is not enough for unhealthy PSBs

[I]  Wait till next budget? Tweaks in I-T law needed to make conversion from trust to company tax-neutral

 

BUSINESS STANDARD

[I]  RBI tightens fit-and-proper criteria for directors on PSB boards

[I]  Reserve Bank bans NBFCs from charging loan foreclosure penalties

[I]  Housing finance companies get Rs 10,000-crore liquidity infusion

[I]  Sebi, government in talks for transfer of surplus funds

[I]  Seven public sector banks fined over violation of RBI's guidelines

[I]  Banks should not charge for deposit of cash at branch, ATMs: RBI

[I]  RBI Governor asks private banks to pass on rate cut benefits faster

 

Best Regards, ARBIND

03 Aug 2019