MACRO ECONOMIC NEWS

COMPASSION IS GODLY, AND IS THE HIGHEST STATE OF GRACE. WISHING AN ELEGANT DAY AHEAD.

Macro Economic News 16 Oct 2019

 

India retains world's fastest-growing rank, tying with China: IMF. 50% consumers prefer desi brands over foreign ones. Indian tax officials are pushing back against new faceless tax assessment program. According to new IMF estimates global growth is expected to fall to 3% this year pointed to rising trade barriers that have stunted manufacturing and investment around the world. One of the biggest risks the economy faces is that overall activity might slow more than most now expect. World is probably moving towards negative interest rate. A report from FED cites negative interest rates are a viable tool to provide stimulus to economies and the U.S. might have benefited from using it during the financial crisis. New Zealand’s inflation slows as RBNZ target remains elusive; New Zealand cenbank says lower rates may be needed. South Korea cuts interest rates as economy loses steam. BOJ keeps sanguine view of regional economy. London retains global finance throne amid Brexit chaos. With two weeks to go until their next policy meeting, U.S. central bankers appear unconvinced a partial U.S.-China trade deal is enough to dispel the policy uncertainty that has weighed on economic growth for months. Fed's Bostic Says, “Too Many Children Have Little Hope for Future”. Women make up about half of the U.S. workforce today, but many jobs remain largely segregated along gender lines.

 

FINANCIAL TIMES

[I]  IMF slashes global growth forecast on trade war fears

[I]  US delegation to press Turkey for Syrian ceasefire

[I]  UK and EU remain locked in race to find Brexit deal

[I]  European Investment Bank postpones natural gas lending decision

[I]  France objects to North Macedonia and Albania EU accession talks

[I]  US banks’ consumer units shine as markets falter

 

REUTERS

[I]  Tax unions irked by PM Modi's switch to faceless assessment: letter

[I]  India cannot sacrifice economic strength to comply with U.S. sanctions - Finance Minister

[I]  India proposes anti-dumping duty on Chinese flat-rolled steel imports

[I]  India's September trade deficit narrows to $10.86 billion

[I]  New Zealand cenbank says lower rates may be needed; annual inflation slows

[I]  South Korea cuts interest rates as economy loses steam

[I]  IMF: Trade war cuts global growth to lowest since financial crisis

[I]  London retains global finance throne amid Brexit chaos

[I]  BOJ keeps sanguine view of regional economy

[I]  Uncertainty seen persisting, along with Fed's divide

[I]  Brexit deal within reach in last-ditch talks, but doubts remain

[I]  Malaysia offers to increase imports from India after Kashmir row

 

BLOOMBERG 

[I]  Trade Woes Push IMF Global Growth Outlook to Decade-Low of 3%

[I]  Brexit Deal Inches Nearer as Key Boris Johnson Ally Threatens Hold-Out

[I]  Bond Bull Says Indian Traders Too Skeptical Over Deficit Targets

[I]  New Zealand’s Inflation Slows as RBNZ Target Remains Elusive

[I]  Credit Cards Are a ‘Bright Spot’ in Bank Earnings, Analysts Say

[I]  Passive Proliferation Slows as 770,000 Indexes Scrapped in 2019

[I]  Too Many Children Have Little Hope for Future, Fed's Bostic Says

 

WALL STREET JOURNAL

[I]  Global Economy on Course for Weakest Growth Since Crisis

[I]  Fed’s James Bullard Cites Risk of Slowing Economy

[I]  Fed’s Daly Still Weighing Her Rate View

[I]  So You Make $100,000? It Still Might Not Be Enough to Buy a Home.

[I]  What ‘Women’s Work’ Looks Like Now

[I]  Trade Uncertainty Clouds Global Growth Prospects

[I]  Fed Paper Says Negative Rate Policy Can Provide Real Stimulus

[I]  Long-Term Inflation Expectations Hit Record Low: N.Y. Fed

 

BUSINESS LINE

[I]  IMF cuts India's growth forecast to 6.1 per cent

[I]  India comfortable with current crude oil price range: Pradhan

[I]  Hopeful of GST collections recovering in the second half: Revenue Secretary

[I]  Only 10 per cent corporates to pass on benefits of lower tax to consumers: Study

[I]  North-East monsoon expected in two days: IMD

[I]  Exports decline 6.5% in September

[I]  'OPEC members determined to maintain relative stability ...

 

ECONOMIC TIMES

[I]  Is recession coming? IMF predicts world's lowest growth in 10 yrs

[I]  Swadeshi: 50% consumers prefer desi brands over foreign ones

[I]  September trade deficit narrows slightly to $10.86 billion

[I]  India retains world's fastest-growing rank, tying with China: IMF

[I]  Slowdown a structural adjustment, not unduly perturbed by it: Piyush Goyal

[I]  RBI issues guidelines on 'on tap' authorisation on payment systems

[I]  How to do $5 trillion by 2024: Cut personal taxes, reform labour laws, sell assets

 

BUSINESS STANDARD

[I]  India is 102 in Hunger Index of 117 nations, undoing decade of improvement

[I]  As cellphone manufacturing industry consolidates, small players shut shop

[I]  Jewellery exporters seek Rs 6,000-cr tech upgrade fund for working capital

[I]  September exports repeat decline, contract by 6.5% to reach 3-month low

[I]  Centre drafts franchisee model for power supply, urges states to take it up

[I]  Corporate tax rate cuts: Mutual funds use rally to offload winners

 

MARKETS (07:30 am)

[I]  SGX NIFTY Fut: 11471;  USDINR DGCX: 71.5925;  DJIA Mini: 26949;  FTSE 100 Fut: 7174;  NIKKEI 225 Fut: 22540;  EUR-USD: 1.1025; Crude Oil (WTI): 52.93;  Gold (Spot): 1482

 

Best Regards, ARBIND
16 Oct 2019