Debt Weekly Headlines: – RR Research

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RR Financial Consultants‘s insight:
1- The eight core industries (with a combined weight of 37.90% in IIP) grew 2.9% in Mar’13 compared to 3% growth a year ago. The cumulative growth rate of the core industries stood 2.6% in 2012-13 (against 5% growth in 2011-12).

2- In its  Annual  Monetary  Policy  Review,  the  RBI  reduced its  policy  repo  rate  under  LAF  by  25  bps  to  7.25%  with immediate effect. Consequently the reverse repo and MSF rate (which is equivalent to bank rate) set to 6.25% and 8.25% respectively. The RBI kept the CRR and SLR unchanged.

3- According to the latest World Bank Development Update for India, the Indian economy would grow at 6.1% in 2013-14 on account of robust domestic demand, strong savings and investment rate.

4- The ECB lowered the main refinancing rate by 25 bps to 0.50% and the rate on the marginal lending facility by 50 bps to 1.00%, but kept the deposit facility rate unchanged. The ECB will continue its refinancing operations at least until mid-2014.

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