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India to start lowering rates to spur growth

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Psalm 51:17
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« on: April 17, 2012, 05:09:28 pm »

India to start lowering rates to spur growth
16 April 2012, by Nick Godt Mumbai (MarketWatch)
http://www.marketwatch.com/story/india-to-start-lowering-rates-to-spur-growth-2012-04-16

For the first time in three years, the Reserve Bank of India is widely expected to lower its key lending rate Tuesday to boost waning growth, even as expectations of future rate cuts this year remain constrained by an uncertain inflation outlook.

In the latest quarter, ending in December, India’s economy grew at 6.1%, its slowest pace in more than two years.

The slowdown began late last year as steep rate hikes by the central bank began to take their toll, along with weak growth in the U.S. and financial turmoil in Europe.

With rampant inflation also showing signs of steadying in recent months, the RBI signaled four months ago its stance would shift toward supporting growth.

“Growth has clearly weakened, while inflation has moderated in the past few months,” said Sonal Varma, economist for India at Nomura.

Among the latest signs of a slowdown, industrial production for February was up only 4.1% from a year earlier, far below economists expectations for a 6.6% increase.

The central bank is widely expected to cut its key lending rate by 25 basis points to 8.25%
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Psalm 51:17
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« Reply #1 on: May 31, 2012, 02:17:15 pm »

India Growth Slows to at Least an Eight-Year Low as Rupee Slides
31 May 2012, by Kartik Goyal (Bloomberg)
http://www.bloomberg.com/news/2012-05-31/india-s-economy-expands-5-3-missing-estimates-on-europe-slump.html

Excerpt:

India’s economy expanded at the weakest pace in at least eight years last quarter, hurt by a slowdown in investment that has undermined the rupee and set back Prime Minister Manmohan Singh’s development agenda.

GDP rose 5.3% in the three months ended March from a year earlier, compared with 6.1% in the previous quarter, the Central Statistical Office said in a statement in New Delhi today.

The median of 31 estimates in a Bloomberg News survey was for a 6.1% gain. GDP climbed 6.5% in the year to March, the office said.

Singh faces a struggle to bolster expansion as Europe’s debt crisis dims the global outlook and elevated inflation and a record trade deficit limit room for more interest-rate cuts to boost spending at home.

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« Reply #2 on: June 11, 2012, 04:40:19 pm »

India may lose investment status on slow growth
11 June 2012, Mumbai (MarketWatch)
http://www.marketwatch.com/story/india-may-lose-investment-status-on-slow-growth-2012-06-11-6485250

--Standard & Poor's warns slowing growth, political hurdles may cause India to lose investment-grade rating

--S&P rates India BBB-minus, lowest-grade investment rating

--Stocks, rupee fall after S&P's comments

Standard & Poor's Rating Services Monday warned India could become the first BRIC nation to lose its investment-grade rating if it doesn't step up economic reforms and improve investment climate, turning the heat on a government already facing huge pressure for perceived policy paralysis
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Kilika
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« Reply #3 on: June 12, 2012, 02:53:45 am »

Well, they've drove the world's economies right into the dirt with all their schemes, so no wonder there's no growth and declines. People are tapped out, and smart enough to know the system is on real shaky ground. The bankers got all the cash.

India, and China can't keep selling their junk to Americans if the US is financially broke, which it is, and eventually people are going to stop pretending they have money and wake up to reality, and start cutting back in a big way.
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