MACRO ECONOMIC NEWS

AN ANGLE IS COMING FOR ANGELIC, AESTHETICAL, AGELESS, AGILE AND AWESOME CELEBRATION. WISHING AN OVERJOYED WEEKEND AHEAD.

Macro Economic News 05 Oct 2019

                                                                                                                                                           

The Reserve Bank of India on Friday cut interest rates for a fifth straight meeting, stepping up efforts to kickstart economic growth languishing at six-year lows. RBI sharply cuts FY20 GDP growth forecast to 6.1% amid economic slowdown. Business climate worst since 2008 financial crisis, says RBI survey. Slowdown blues: Low demand in economy shrinks loan book of India Inc. RBI to provide liquidity support to banks for smooth NEFT transactions. U.S. unemployment dropped to a half-century low and job growth continued at a modest pace, signs the economy is holding up despite a broader global slowdown. But economists aren’t convinced that the U.S. has achieved full employment. U.S. trade gap with china narrows as exports hit five-month high. More pain is seen for Europe Inc as earnings drought seen spilling over into 2020. Canada’s trade deficit shrinks on exports of crude, aircraft.

 

FINANCIAL TIMES

[I]  PM to seek Brexit extension if no deal by October 19

[I]  China: the ultimate test of authoritarian rule

[I]  Former central bankers attack ECB’s monetary policy

[I]  US unemployment rate hits 50-year low

[I]  Watchdog looks at ban on insurance loyalty penalty

[I]  Negative rates tarnish bankers’ halos

[I]  House prices dive in London’s Stoke Newington

 

REUTERS

[I]  RBI cuts rates by 25 bps

[I]  Slight retreat in prices adds to festive lure in India

[I]  India's services sector contracts in September on weak demand: PMI

[I]  U.S. eliminating tariff exemption for imports of new solar panel technology

[I]  More pain for Europe Inc as earnings drought seen spilling over into 2020

[I]  U.S. unemployment rate hits 3.5%; job growth moderate

 

BLOOMBERG 

[I]  Fed to Keep Pumping Liquidity Into Repo Market Through October

[I]  Is the U.S. Slowing or Stalling? That’s the Question After the Jobs Report

[I]  Fed Officials Signal Openness to More Easing After Jobs Report

[I]  U.S. Imports From China Slump; No. 2 Supplier Mexico Narrows Gap

[I]  OPEC Is Prepared to Make Deeper Cuts If Needed, Nigeria Says

[I]  U.S. Payrolls and Wages Miss Estimates in New Sign of Downshift

[I]  Canada’s Trade Deficit Shrinks on Exports of Crude, Aircraft

[I]  U.S. Trade Gap With China Narrows as Exports Hit Five-Month High

 

WALL STREET JOURNAL

[I]  U.S. Unemployment Hit 50-Year Low in September

[I]  Economists Wonder How Low U.S. Unemployment Can Go

[I]  Fed Chairman Says U.S. Economy Is ‘In a Good Place’ Despite Some Risks

[I]  Treasury Inspector General Reviewing Handling of Requests for Trump Tax Records

[I]  U.S. Trade Gap Widened in August

[I]  U.S. Government Bond Yields Decline After Jobs Report

[I]  India Slashes Interest Rate, Growth Forecast as Slump Stretches On

[I]  Jobs Report Keeps October Rate Cut Discussion on The Table

 

BUSINESS LINE

[I]  RBI revises GDP growth forecast to 6.1%

[I]  RBI pegs GDP growth to recover to 7 per cent in 2020-21

[I]  Eleven of 12 reservoirs 80% full: CWC

[I]  Tea export earnings up 14%

[I]  India’s services sector activity contracts in September amid ...

[I]  E-assessment scheme for taxpayers comes with riders

 

ECONOMIC TIMES

[I]  The debt threat lurking behind India's zombie homes

[I]  Govt proposes up to 7% increase in MSP for Rabi crops

[I]  In Delhi, onions sell at double wholesale rate

[I]  Forex reserves scale record high of $434.6 billion

[I]  Cabinet approves new strategic disinvestment process

 

BUSINESS STANDARD

[I]  RBI sharply cuts FY20 GDP growth forecast to 6.1% amid economic slowdown

[I]  Business climate worst since 2008 financial crisis, says RBI survey

[I]  Slowdown blues: Low demand in economy shrinks loan book of India Inc

[I]  Lower domestic growth worrisome for markets, RBI rate cut fails to cheer

[I]  Rise in capex unlikely despite corporate tax rate cut, warns Credit Suisse

[I]  RBI to provide liquidity support to banks for smooth NEFT transactions

 

Best Regards, ARBIND

05 Oct 2019