MACRO ECONOMIC NEWS

BEAUTIFUL NATURE IS CALLING FOR BEST HEALING, THIS FRIDAY. WISHING A PROLIFIC DAY AHEAD.

Macro Economic News 13 Sep 2019

 

India's retail inflation rate increased to a 10-month high in August but stayed below the central bank's 4% medium-term target, strengthening expectations that there will be another interest rate cut next month. Bank credit growth slumps to 10.24%, deposits at 9.73%, shows RBI data. RBI cuts risk weight on consumer credit, including personal loan, to 100%. Tariffs imposed or threatened by the United States and China could shave 0.8% off global economic output in 2020 and trigger more losses in future years, the International Monetary Fund said. The U.S. budget gap widened to more than $1 trillion in the first 11 months of the fiscal year, the first time year-to-date deficits have topped that mark since 2012. The European Central Bank cut its key interest rate and launched a sweeping package of bond purchases that lays the groundwork for a long period of ultraloose monetary policy, jolting European financial markets.  Turkey slashes rates in bid to reverse economic slump. Japan firms push back capex plans as trade risks grow - Reuters survey.

 

FINANCIAL TIMES

[I]  ECB cuts rates and tells governments to act

[I]  145 CEOs call on Congress for tougher gun controls

[I]  Trump races to seal Nafta revamp deal with Congress

[I]  US targets companies with Chinese military ties 

[I]  Trump says he would consider ‘interim deal’ with China

[I]  China stimulus feared ‘too little, too late’

[I]  Turkey slashes rates in bid to reverse economic slump

[I]  Cuba faces blackouts as US sanctions hit fuel supplies

 

REUTERS

[I]  August retail inflation rate climbs, rate cut hopes high

[I]  Trump favours 'whole deal' with China, two sides prepare for trade talks

[I]  Japan Inc increasingly hit by trade war, but few shifting from China: Reuters poll

[I]  Trade optimism pressures yen but caution prevails ahead of Fed, BOJ

[I]  Climate protesters arrested at Texas port ahead of U.S. presidential debate

[I]  U.S., China tariffs could lower global GDP by 0.8% in 2020: IMF

[I]  Investing green is all the rage, but benchmarks still hazy

[I]  EU's Barnier says he is not optimistic on Brexit deal by mid-October

[I]  U.S.-China trade war risks driving Fed policy, not Trump's carping: economists

[I]  Draghi ties Lagarde's hands with promise of indefinite stimulus

[I]  Japan firms push back capex plans as trade risks grow - Reuters survey

 

BLOOMBERG 

[I]  Yellen Expects Fed to ‘Do More’ to Keep U.S. Economy on Track

[I]  ECB Cuts Rates, Revives QE to Lift Growth as Draghi Era Ends

[I]  U.K. Needs U.S.-Style Constitution, Says Bercow: Brexit Update

[I]  U.S. Farm Industry Buffeted by Trade War Pitches Ethanol to Asia

[I]  Whirlwind Day in FX Leaves Dollar Weaker After Trade Report, ECB

[I]  Surge in U.S. Health-Insurance Prices Exposes Quirks in Data

[I]  Inflation in Argentina Spiked After Shock Primary Election

[I]  Australia's Biggest Economic Stimulus Since 2009 Isn't Working

 

WALL STREET JOURNAL

[I]  U.S. Deficit Tops $1 Trillion for First Time in Seven Years

[I]  ECB Acts to Spur Eurozone’s Flagging Economy

[I]  Economists Don’t See Path to 3% Growth

[I]  Mnuchin Says U.S. Looking Closely at Issuing 50-Year Bond

[I]  China Seeks to Narrow U.S. Talks to Break Deadlock

[I]  Businesses Escalate Push for Trade Pact with Canada, Mexico

[I]  Weak Energy Prices Held Down Overall Inflation In August

 

BUSINESS LINE

[I]  Fraudsters threaten to bleed Ayushman Bharat scheme

[I]  Analysts see room for rate cut as IIP, inflation numbers disappoint

[I]  Include compliance statement on director remuneration in audit reports: CA body

[I]  Govt's ethanol push to help sugar mills, oil companies

[I]  Tax offences, failure to pay TDS up to Rs 25 lakh not be prosecuted by taxman

[I]  Default authentication to get traction as IBBI allows `information utility’ to access MCA-21, CERSAI data

 

ECONOMIC TIMES

[I]  India's app economy is set to boom and how!

[I]  Banks may be walking into a dangerous trap

[I]  RBI turns seller of dollar for first time this fiscal in July

[I]  Factory output grows 4.3% in July

[I]  August retail inflation at 10-month high of 3.21%

[I]  Central contractual employees to get paid like regular staff: Report

 

BUSINESS STANDARD

[I]  Repo-linked loans: Home buyers to see higher outgo in initial years

[I]  States rule out GST rate cut on automobiles amid grim revenue situation

[I]  Privacy-based business models may generate $12 billion by 2025, says study

[I]  Reserve Bank increases banks' loan exposure limit to single NBFC

[I]  Bank credit growth slumps to 10.24%, deposits at 9.73%, shows RBI data

[I]  RBI cuts risk weight on consumer credit, including personal loan, to 100%

 

MARKETS (08:30 am)

[I]  SGX NIFTY Fut: 10992;  USDINR DGCX: 71.1250;  DJIA Mini: 27218;  FTSE 100 Fut: 7361;  NIKKEI 225 Fut: 21780;  EUR-USD: 1.1067; Crude Oil (WTI): 55.00;  Gold (Spot): 1497

 

Best Regards, ARBIND
13 Sep 2019