Gold rates in India saw a slight increase on Friday, coinciding with the celebration of Akshaya Tritiya. In Delhi, 10 grams of 24-carat gold was priced at Rs. 73,240 today, while on the Multi Commodity Exchange (MCX), gold contracts for June delivery traded higher by Rs 93 at Rs 73,090 per 10 grams.
Economists question whether this signifies a new volatile phase in the fight against inflation, with the IMD offering no respite from the blistering temperatures. Aside from health concerns, experts highlight the threat to agricultural output, potentially worsening inflationary pressures.
Despite the potential for intervention, analysts remain doubtful about its effectiveness. Tapas Strickland from the National Australia Bank highlighted that macroeconomic fundamentals do not currently support a significant shift towards a hawkish monetary stance.
Whirlpool, the parent company of household appliance brands Maytag and Amana, is initiating a workforce reduction of approximately 1,000 salaried positions globally due to sluggish demand in the US home appliance market.
The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front.
Priyanka Gandhi Vadra in an exclusive conversation with India TV targeted the BJP-led government at the Centre saying it doesn't talk about jobs, price rise and tries to divert attention by talking about religion during elections.
India's retail inflation eases to 5-month low of 4.85 per cent in March. The central bank has projected retail inflation at 4.5 per cent for the current fiscal assuming a normal monsoon.
Pakistan has been reeling under massive economic woes, with the inflation rate hitting a peak of 38 per cent. This has affected the shopping for Ramadan, where people complain of difficulties in purchasing even simple clothes for their kids.
The projections shared by the US Federal Reserve indicated the continuation of strong economic growth despite inflation remaining 'inflated'. This step caused global stocks to rally on Thursday, while the Indian rupee showed gains of 14 paise in the morning.
Despite Pakistan showing improvement in some areas, the IMF predicted that the country's economic growth remains modest and inflation was above target. The IMF Executive Board had approved the $3 billion Stand-By Arrangement (SBA) for the cash-strapped Pakistan last year.
The 81-year-old president has raised concerns after a series of verbal mixups, at times confusing the names of world leaders during his tenure at the White House. Recently, a damaging special counsel report claimed he had forgotten when his son Beau died of cancer.
A Kashmiri-origin chartered accountant, Ishaq Dar has served as Pakistan's Finance Minister four times, the latest under Shehbaz Sharif till 2023. He has the critical task of mending bilateral relations with neighbours India and Afghanistan, which are now at their lowest.
Food inflation fell to 6.85 per cent in January, down from 9.38 per cent in December 2023, while inflation in vegetables decreased to 19.71 per cent.
The monetary policy committe led by Shaktikanta Das has kept the repo rates unchanged at 6.50 per cent.
The RBI has kept the repo rate steady at 6.50 per cent over the past year, last raising it in February 2023 from 6.25 per cent.
The finance minister attributed the moderated inflation levels to good macroeconomic stability and robust investments.
Speaking at the World Economic Forum annual meeting in Davos, the governor expressed confidence in the effectiveness of monetary policy, stating that core inflation has been steadily decreasing.
Union Budget 2024: The budget is expected to include various financial indicators, including inflation, fiscal deficits, capital expenditures, revenue receipts, bad loans, and more.
The positive inflation rate in December is attributed to higher prices of food articles, machinery and equipment, other manufacturing goods, other transport equipment, and computer, electronics, and optical products, among others.
Food inflation, which constitutes nearly half of the overall consumer price basket, increased to 9.53 per cent in December, up from 8.70 per cent in November.
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