 "Jerome Powell, US Fed Chair")
Fed readies another rate hike in pivotal week for major central banks
The world’s major central banks meet in the coming week to set monetary policy amid continued signs that the worst inflation crisis in decades is easing. While the Federal Reserve and European Central Bank are each expected to raise interest rates by 25 basis points, the greater focus will be on signaling from policy makers on whether more hikes are likely — or if they plan an extended pause. Read more
FPIs stay invested in Indian equities; put in Rs 43,800 cr this month
Indian equity markets continue to draw foreign portfolio investments as foreign investors put in Rs 43,800 crore in July so far on stable macroeconomic fundamentals, steady earnings growth and challenges faced by the Chinese economy. With this, inflow in the equity market reached Rs 1.2 trillion so far this year, data with the depositories showed. Read more
Households in Covid vulnerable districts bought more gold: IIMA study
Households in India's Covid vulnerable districts allocated more gold to their savings portfolio during the pandemic compared to households in other districts, as per a study conducted by the Indian Institute of Management Ahmedabad (IIMA). The shift towards gold is accompanied by a shift away from other financial assets and cash, as per the IIMA working paper titled 'Gold in household portfolios during a pandemic: Evidence from an emerging economy'. Read more
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Yamuna's water level flows slightly above danger mark at 205.81 m in Delhi
After days of receding, the water level of the Yamuna River in the National Capital was recorded at 205.81 metres, marginally above the danger mark of 205.33m, on Sunday morning. As per the Central Water Commission, the water level stood at 205.81 at 7 am today, up from 205.7m recorded earlier a few hours ago. Read more
G20 bloc fails to reach agreement on cutting fossil fuels after objections
The Group of 20 (G20) major economies meeting in India failed on Saturday to reach consensus on phasing down fossil fuels following objections by some producer nations. Scientists and campaigners are exasperated by international bodies' foot-dragging on action to curb global warming even as extreme weather from China to the United States underlines the climate crisis facing the world. Read more
