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NEW DELHI: OECD and the Asian Development Bank (ADB) on Thursday cautioned against the adverse impact of energy prices and global growth due to the West Asia crisis. Paris-based OECD on Thursday retained its global growth projection for the current year and marginally lowered it for 2027. When it came to India, it trimmed its…
The escalation of the Middle East conflict could push US inflation to 4.2% this year–the highest among G7 economies– while also slowing global growth, the Organisation for Economic Cooperation and Development (OECD) has said, underlining the widening economic costs of the US-Israel war with Iran, the Financial Times reported.In its interim economic outlook, the Paris-based…
NEW DELHI: After extensive consultation, govt has decided to retain the retail inflation target for the monetary policy committee at 4%. For the next five years, the tolerance band of 2-6% has also been retained, according to a notification issued by the finance ministry on Wednesday.The targets have been in place for 10 years now…
The government on Wednesday extended the mandate for the Reserve Bank of India (RBI) to maintain retail inflation at 4 per cent, with a tolerance band of 2 percentage points on either side, for another five years ending March 31, 2031.The move continues the flexible inflation-targeting framework first introduced in 2016 and retained once earlier…
Gold prices declined by over 2% on Monday, deepening their fall to nearly a four-month low, as intensifying tensions in the Middle East heightened concerns over inflation and reinforced expectations of tighter global interest rates. Spot gold dropped 2.5% to $4,372.86 per ounce as of 0238 GMT, marking its ninth straight session of losses. Earlier…
NEW DELHI: Warning of sharp inflation in the coming weeks, Congress’ Rahul Gandhi on Saturday said the Modi govt will hike the prices of petrol, diesel and LPG after the coming assembly elections, as he accused BJP of lacking strategy and direction to manage the country’s economy. Congress also accused the Modi govt of “moral…
NEW DELHI: Leader of opposition in Lok Sabha Rahul Gandhi slammed the BJP-ruled central government over falling rupee and called it “clear signs” that inflation was inevitable. He criticised the Centre’s “empty rhetoric” as the country faces economic restrain due to LPG shortage amid West Asia crisis. He claimed that petrol, diesel, and LPG prices…
MUMBAI: Precious metal prices crashed on Thursday after oil rallied to a near three-year high, raising inflation concerns and the US Federal Reserve maintained a status quo on rates. As a result, the price of gold on New York Commodity Exchange (Comex) crashed nearly 6% and was trading just above the $4,600/ounce (Oz) in late…
Equity markets across Asia declined on Thursday, tracking losses on Wall Street after a sharp rise in oil prices above $112 per barrel and renewed concerns over inflation and interest rates dampened investor sentiment. In early trading Tokyo’s Nikkei 225 dropped 2.5% to 53,875.94, while South Korea’s Kospi fell 1.3% to 5,845.62. Hong Kong’s Hang…
US wholesale prices rose more than expected in February, reflecting mounting inflationary pressures even before the recent surge in global energy prices linked to the Iran conflict, according to data released by the Labor Department as reported news agency AP.The department reported on Wednesday that its producer price index (PPI), which measures inflation at the…
