MACRO ECONOMIC NEWS

IT'S PLEASING TO GO BACK IN TIME, BE IT SITTING IN A CLASSROOM. WISHING A THRILLING DAY AHEAD.

Macro Economic News 19 Sep 2019

http://eco.isead.in/

Wild swings this week in U.S. money markets have raised fresh concerns about whether the New York Federal Reserve. Federal Reserve Chairman Jerome Powell announced a second rate cut in more than a decade but failed to provide a clear signal on how many more rate cuts are coming, if any. Officials left the door open for more but were split over the outlook for further reductions. Brazil’s central bank cut its benchmark interest rate as expected, as consumer price increases remain under control amid a years-long economic slowdown. BOJ keeps policy steady, signals chance of easing in October. Hong Kong Cuts Base Rate After Fed; Banks Seen Staying on Hold. Argentina’s Central Bank Raises Rate Floor to 78% as Prices Soar.

FINANCIAL TIMES

[I] Fed cuts rates as policymaker splits deepen 

[I] Legacy of corruption fuels renewal movement in Brazil 

[I] Electoral maths leave Netanyahu future in balance 

[I] Juncker doubts chances of striking Brexit deal 

[I] US businesses ‘tapping the brake’ as uncertainty bites 

[I] India workers suffer as car industry goes into reverse 

REUTERS

[I] Fed cuts interest rates, signals holding pattern for now

[I] BOJ keeps policy steady, signals chance of easing in October

[I] Trump sees many options short of war with Iran after attacks on Saudis

[I] Australian August unemployment at one-year high, rate cut seen in October

[I] U.S. bankers seize on repo-market stress to push for softer liquidity rules

[I] U.S. unlikely to impose sanctions on Turkey over Russian buy: Turkish official

[I] Fed pumps more cash as key rate breaks above target

[I] BOJ seen on hold as global woes, dwindling options complicate policy path

[I] UK banks sign up to U.N.-backed responsible banking code

BLOOMBERG 

[I] Climate Change Could Derail Your Retirement

[I] BOJ Leaves Policy Unchanged, Calls for Review as Risks Rise

[I] Rush of Foreign Money Into Taiwan Sends Stocks Near Record

[I] Hong Kong Cuts Base Rate After Fed; Banks Seen Staying on Hold

[I] Top Shadow Banker Calls Time on India’s Credit Crisis

[I] U.K. Set to Open $25 Billion Contest for Offshore Wind Farms

[I] Argentina’s Central Bank Raises Rate Floor to 78% as Prices Soar

[I] Modi’s Goal of a $5 Trillion Economy By 2025 Is at Risk

WALL STREET JOURNAL

[I] Fed Cuts Rates By Quarter Point, But Faces Growing Split

[I] Fed Sees Three Dissents at Meeting for First Time Since 2016

[I] Oil Spikes, Auto Strikes Join List of Supply Shocks

[I] Mortgage Rates Decline Ahead of Fed Meeting

[I] Fed Cuts Rates by Quarter Point but Faces Growing Split

[I] Brazil Central Bank Cuts Benchmark Rate to Record Low

BUSINESS LINE

[I] How India’s pipelines to Bangladesh, Nepal are changing oil trade dynamics

[I] India’s steel consumption growth likely to slow to 6 per cent: ICRA

[I] Direct tax collection picks up

[I] Three new 'low's to bring more rains, predicts IMD

[I] Petrol, diesel prices see steepest hike since July 5

[I] Govt mulls alternative to `bank guarantee’ for kick-starting stalled road projects

[I] Liberalised FDI rules for single brand retail, coal, ...

ECONOMIC TIMES

[I] RBI drops a data bomb on fintech firms

[I] Indian-Americans support dual citizenship: Survey

[I] Fed cuts rates by 25 bps, gives mixed signals

[I] RBI plans to structure loan rates of NBFCs, HFCs

[I] Tax collection misses target by a wide margin; inches up 4.7% in April-September

[I] Number of workers grew 4.8% to 12.2 million in FY18: ASI data

[I] India's monsoon rains above-average for third straight week: IMD

[I] Govt constitutes Company Law Committee to improve ease of doing business

[I] Govt proposes to hand over EPFO corpus of Rs 10 lakh crore to a central body

BUSINESS STANDARD

[I] Unsold inventory for top real estate developers scales new high in FY19

[I] Gig workers set to come under labour laws, get social security benefits

[I] Advance tax mop-up posts dismal growth, rises by just 6% in H1FY20

[I] Start-up sectors that have the highest probability of receiving funding

[I] Factory investment fell, wages went up in GST implementation year

[I] RBI decision to cut risk weights for retail loans credit negative: Moody's

[I] RBI unlikely to extend October 1 deadline for repo-linked loans

MARKETS (10:00 am)

[I] SGX NIFTY Fut: 10757;  USDINR DGCX: 71.3300;  DJIA Mini: 27080;  FTSE 100 Fut: 7300;  NIKKEI 225 Fut: 21910;  EUR-USD: 1.1039; Crude Oil (WTI): 58.25;  Gold (Spot): 1495

Best Regards, ARBIND

19 Sep 2019