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Monetary Policy Committee of the Reserve Bank of India decided to raise the repo rate by 25 basis points to 6.25%. The key interest rate was raised for the first time since 2014 in order to ease price pressure and calm financial markets. Most economists did not expect such a step from the regulator. After the decision of the Central Bank, Indian government bonds fell in price, the rate of Indian rupee increased. On Wednesday, rupee went up by 0.4%, its rate was 66.9 against the US dollar. Coupled with the US dollar, the rupee this year lost 4.7%, showing the worst result in Asia. Central banks of many developing countries in recent weeks have raised interest rates to support the national currency, to restrain inflation and stop the outflow of capital.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
On Monday, Remington Arms Co. filed for bankruptcy protection for the second time since 2018 as the U.S. firearms manufacturer faced financial difficulties due to gun sales restrictions. According to the court filing, the company filed for ...
Australia had seen its employment rate dropping 1.1% between mid-June and mid-July, weekly data showed on Tuesday. In addition to this, the southeastern state of Victoria recorded the sharpest plunge in employment as the state suffers from ...
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