MNI BRIEF: Japan's Sept Sentiment, Outlook Indexes Fall

MNI BRIEF: China Local Govs To Speed Up Fiscal Spending

MNI: PBOC Net Drains CNY886.9 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.0709 Tues; +4.18% Y/Y

CHINA PBOC CONDUCTS CNY41.7 BLN VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.0709 TUES VS 7.0074

MNI: GERMANY AUG IND PROD +2.9% M/M

MNI: SWEDEN SEP CPIF +1.15% Y/Y

MNI JAPAN AUG HOUSEHOLD SPENDING -1.9% Y/Y; JULY +0.1%

CANADA: Politics Week: Parliament Opens With Early Election Threats

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI RBI Preview - Octobe2024: No Change, Policy Bias In Focus

The RBI is widely expected to remain on hold at tomorrow's policy meeting, but could switch to an easing bias.
IndiaAsia Bank - PreviewEM BulletReserve Bank of India - PreviewHomepageAPACEmerging Market NewsAnalysisEM Central Bank ReportsEM Central Bank PreviewBulletGlobalStoryRegion

MNI (SYDNEY) - EXECUTIVE SUMMARY

  • Only four economists surveyed by Bloomberg expect a cut at tomorrow’s policy meeting. The other surveyed (just under 40) expect a steady policy outcome. This is also our firm bias, which would leave the policy rate at 6.50%. Greater focus is likely to rest with the RBI’s policy bias and the look ahead given global volatility, some rebound in oil prices and the growing interest rate differential given the US Federal Reserve’s cut in interest rates.   
  • The growth outlook remains sufficiently resilient to remain on hold but carefully watching the outlook for Global geo-politics, the impact of the cut from the Federal Reserve, the flow on effect of the recently announced China stimulus and the currency.
  • Given how large food prices are in terms of the CPI basket, the RBI may also want to see a more encouraging trend on this front before gaining confidence in sustaining its inflation target.
  • Full preview here: RBI Preview - October 2024 .pdf
162 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

MNI (SYDNEY) - EXECUTIVE SUMMARY

  • Only four economists surveyed by Bloomberg expect a cut at tomorrow’s policy meeting. The other surveyed (just under 40) expect a steady policy outcome. This is also our firm bias, which would leave the policy rate at 6.50%. Greater focus is likely to rest with the RBI’s policy bias and the look ahead given global volatility, some rebound in oil prices and the growing interest rate differential given the US Federal Reserve’s cut in interest rates.   
  • The growth outlook remains sufficiently resilient to remain on hold but carefully watching the outlook for Global geo-politics, the impact of the cut from the Federal Reserve, the flow on effect of the recently announced China stimulus and the currency.
  • Given how large food prices are in terms of the CPI basket, the RBI may also want to see a more encouraging trend on this front before gaining confidence in sustaining its inflation target.
  • Full preview here: RBI Preview - October 2024 .pdf