MACRO ECONOMIC NEWS

THIS SPRING IS ABOUT TO BLOOM EVERY BUD INTO A RADIANT BLOSSOM. WISHING A CHEERFUL DAY AHEAD.

Macro Economic News 30 Jan 2020

 

The Federal Reserve held interest rates steady at its first policy meeting of the year, with the head of the U.S. central bank pointing to continued moderate economic growth and a "strong" job market, and giving no sign of any imminent changes in borrowing costs. All 10 members of the Fed’s rate-setting committee voted to hold the fed-funds rate in a range between 1.5% and 1.75% and reaffirmed the Fed’s make-no-moves posture. Powell says Fed has a role in combating climate change risk while South Korea central bank official says that it is premature to decide on rate cuts to counter virus impact. The Bank of England appears close to cutting interest rates for the first time in more than three years. Chile holds rates as protests portend months of uncertainty while top Brazil investors call for end to interest rate cuts. Germany says economic recovery reaches turning point whereas British car production falls at quickest pace since recession.

 

FINANCIAL TIMES

[I]  Coronavirus crisis hits global businesses in China

[I]  EU draws up 5G plan to screen security risks

[I]  Germany says economic recovery reaches turning point

[I]  Nigeria makes anti-corruption moves amid criticism over progress

[I]  Federal Reserve stands firm on interest rates

[I]  Global miners failing to meet Paris climate goals

 

REUTERS

[I]  Fed keeps rates steady, to tailor Treasury bill purchases later this year

[I]  Fed has a role in combating climate change risk, Powell says

[I]  British car production falls at quickest pace since recession

[I]  South Korea central bank official: premature to decide on rate cuts to counter virus impact

[I]  Bank of England rate cut hangs in balance at Carney's last policy meeting

[I]  U.S. House Democrats call for $760 billion in infrastructure spending over five years

 

BLOOMBERG 

[I]  Virus Crisis Risks Delaying Earnings Reports Across Hong Kong

[I]  Powell Paves Way for Possible Dovish Shift in Inflation Strategy

[I]  Fed Virus Alert, Shattered Indian Dreams, Germany Lifts: Eco Day

[I]  Argentina Tells Investors Debt Sustainability Plan Coming Soon

[I]  Chile Holds Rates as Protests Portend Months of Uncertainty

[I]  Fed Holds Main Rate as Powell Stresses Need to Hit 2% Inflation

[I]  Economy Shrinks in Larger Number of U.S. States, Fed Gauge Shows

[I]  Top Brazil Investors Call for End to Interest Rate Cuts

 

WALL STREET JOURNAL

[I]  Fed Holds Benchmark Rate Steady

[I]  No, Banks Don’t Hold the Key to Climate Change

[I]  USMCA: The Deal’s Been Signed, but the Debate Continues

[I]  Durable-Goods Orders Rise, Masking Manufacturing Weakness

 

BUSINESS LINE

[I]  India Venture Capital market ended on a high note in 2019

[I]  India to discuss $10-billion trade deal with the US ahead of Trump’s India visit

[I]  Soon, state-owned ports too will be free to set tariffs

[I]  India seeks WTO comments on proposal to bring more steel

 

ECONOMIC TIMES

[I]  US green card ruling may not hurt Indians

[I]  States asked to set up PSFs to combat price volatility

[I]  3.4 lakh evade cap gains tax on equity, MF sales: Government

[I]  Gadkari urges industry to cash in on new expressway projects

[I]  Assam tops in budgetary practices, followed by Odisha, Andhra: Survey

[I]  Budget 2020: What FM Sitharaman can do to ease liquidity conditions

[I]  Government notifies rules for winding up of companies under Companies Act

[I]  Manufacturing companies may need up to 2,000 compliances under laws

 

BUSINESS STANDARD

[I]  Govt unearths job incentive fraud; EPFO blocks accounts of 1 mn employees

[I]  Mumbai's realty market flatlining on stagnant prices, slow sales

[I]  Brexit: Indian exporters cautious but hopeful ahead of Wednesday vote

[I]  Ind-Ra expects states fiscal deficit to touch 3% of GDP in FY21

[I]  GST, VAT collection dips as 6 states' tax revenue till November FY20 falls

 

MARKETS (07:00 am)

[I]  SGX NIFTY Fut: 12101;  USDINR DGCX: 71.4125;  DJIA Mini: 28681;  FTSE 100 Fut: 7403;  NIKKEI 225 Fut: 23219;  EUR-USD: 1.1013; Crude Oil (WTI): 53.05;  Gold (Spot): 1579

 

Best Regards, ARBIND
29 Jan 2020