Australian labor market seems to be stabilizing, businesses expect to increase staff in months ahead
U.S. retail sales drop further severely in April, consumer activity to remain weak for several months
RBI’s tn transfer to govt likely to prompt foreign investors to pour more funds into Indian bond market for higher returns, says Scotiabank
While the rollback of the super-rich tax on foreign portfolio investors (FPIs) will finally revive equity inflows, the Reserve Bank of India’s (RBI) INR 1.76 trillion transfer to the government are expected to prompt foreign investors to pour more funds into the Indian bond markets for higher returns, according to the latest research report from Scotiabank.
The central bank on Thursday released its annual report, saying reviving consumption demand and private investment has assumed the top priority in the current fiscal year. India’s finance minister Nirmala Sitharaman told reporters in Guwahati on Thursday that the government could soon announce more measures to boost the economy, topping up the mega package unveiled last Friday.
In addition, conciliatory statements from China’s commerce ministry could boost EM Asian currencies including the INR to some extent, at least temporarily. Both the yuan and the rupee would rally amid risk-on sentiment should the US and China agree to hold the 13th round of trade talks in September, given the recently increasing correlation between them.
China’s commerce ministry spokesman Gao Feng told reporters at a weekly briefing on Thursday afternoon that the nation hopes the US can cancel the planned additional tariffs to avoid an escalation in the trade war. His remarks may suggest China will refrain from retaliating against the latest US tariff threat.