On the uncertainty over the open market operations to be conducted by the Reserve Bank of India, the bond prices fell by 90 paise on February 17. The prices are under pressure as the borrowing programme is going to lead to excess supply in the market, the source said. Along with this, the uncertainty on how the Government will finance the additional Rs 45,000-crore deficit also put pressure. The 6.05 per cent 10-year 2019 paper opened at Rs 100.2 (6.02 per cent YTM) and touched an intra-day low of Rs 99 (6.18 per cent YTM). It recovered marginally to close at Rs 99.30 (6.14 per cent YTM) as compared to the previous close of Rs 100.2 (6.02 per cent YTM). On the order matching system, the total traded volumes were at Rs 6.975 crore (Rs 7,030 crore).
Showing posts with label Finance Ministers. Show all posts
Showing posts with label Finance Ministers. Show all posts
Wednesday, February 18, 2009
Friday, October 10, 2008
Finance Ministers To Hold Emergency - Oct 10, 2008
The top finance ministers of the world will hold an emergency meeting in about 48 hours time to plan out measures to stop the financial tsunami. The unprecedented coordinated global action has set the tone this meeting in Washington .. Twenty Finance Ministers including P Chidambaram will be meet the World Bank President. The big question is whether things will get as bad in India as they are in the West?
The President of the World Bank, Robert Zoellick, however, opines that there will be some slowdown in India but India will be in a position to weather the storm.The festival of Dushera gave the Indian markets and authorities a breather on Oct 9. But over the next day or two, if the markets resume their fall India may do what other top economies have done i.e. cut interest rates.
On Oct 9 three more top economies namely, Hong Kong, Japan and South Korea cut interest rates by up to half a percent. But the Asian markets still did not respond positively. Most of them closed about a per cent- a percent and a half down. The Federal Reserve, acting in coordination with other global central banks, cut a key US interest rate by half a percentage point on Wednesday to steady a teetering global economy. India has yet has not been a part of the unprecedented joint global action. Almost ten countries, the US and China included have slashed interest rates. It''s a move aimed to provide more money in the economies and to calm fears of the investors, depositors and businesses.
The President of the World Bank, Robert Zoellick, however, opines that there will be some slowdown in India but India will be in a position to weather the storm.The festival of Dushera gave the Indian markets and authorities a breather on Oct 9. But over the next day or two, if the markets resume their fall India may do what other top economies have done i.e. cut interest rates.
On Oct 9 three more top economies namely, Hong Kong, Japan and South Korea cut interest rates by up to half a percent. But the Asian markets still did not respond positively. Most of them closed about a per cent- a percent and a half down. The Federal Reserve, acting in coordination with other global central banks, cut a key US interest rate by half a percentage point on Wednesday to steady a teetering global economy. India has yet has not been a part of the unprecedented joint global action. Almost ten countries, the US and China included have slashed interest rates. It''s a move aimed to provide more money in the economies and to calm fears of the investors, depositors and businesses.
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