India's central bank reduced its key interest rates by a quarter point at an unscheduled meeting on Wednesday after the budget affirmed the government's commitment on fiscal consolidation. The Reserve Bank of India governed by Raghuram Rajan decided to cut its repo rate by 25 basis points to 7.50 percent with immediate effect. Consequently, the reverse repo rate was adjusted to 6.50 percent.
Australia's GDP grew at a faster rate in the fourth quarter, but growth was slower than expected, the Australian Bureau of Statistics said on Wednesday.
The economy advanced 0.5 percent quarter-over-quarter in the fourth quarter after the 0.4 percent rise in the third quarter. Economists expected...
With no U.S. economic data to drive the direction of trade Tuesday, the dollar is little changed in comparison to its major rivals. Investors are looking forward to the U.S. jobs report for February at the end of the week, as well as the European Central Bank meeting on Thursday.
Investors can also...
Australia's central bank is set to lower interest rates as early as April or May, economists said after the bank resisted calls for back-to-back easing by maintaining status quo on Tuesday. "At today's meeting the Board judged that, having eased monetary policy at the previous meeting, it was appropriate to hold interest rates steady for the time being," Reserve Bank of Australia said.
Germany's retail sales growth accelerated unexpectedly in January to log its fastest gain in four-and-a-half years, boosting hopes of consumer spending cushioning economic growth. Retail sales annual growth improved for the second straight month in January, to 5.3 percent from 4.8 percent in December, data released by Destatis showed Tuesday.
Switzerland's economy grew more-than-expected in the fourth quarter with momentum underpinned by domestic spending and foreign demand for goods, data from the State Secretariat for Economic Affairs showed Tuesday. Gross domestic product advanced 0.6 percent from the third quarter, when it rose a revised 0.7 percent. Economists had forecast the growth rate to ease to 0.3 percent.
Retail sales from Germany and producer prices from Eurozone are the major economic reports due on Tuesday.
The Reserve Bank of Australia decided to leave its cash rate unchanged at its March meeting, belying expectations for a back-to-back rate cut. The monetary policy board maintained the cash rate at 2.25 percent after lowering it by 25 basis points last month. Some economists had expected the bank to lower rates further this month.
The Australian dollar strengthened against the other major currencies in the Asian session on Tuesday following Reserve Bank of Australia's decision to leave its cash rate unchanged at its March meeting.
The monetary policy board maintained the cash rate at 2.25 percent after lowering it by 25 basis...
Australia posted a seasonally adjusted current account deficit of A$9.588 billion in the fourth quarter of 2014, the Australian Bureau of Statistics said on Tuesday - which marked a 21 percent gain on the previous quarter.
The headline figure beat forecasts for a shortfall of A$11.0 billion following...
The dollar is gaining ground against both the pound sterling and the Japanese Yen at the start of the new trading week, but is little changed in comparison to the Euro. U.S. economic data proved largely disappointing this morning. Consumer spending and personal income were slightly lower than anticipated...
India's government and the central bank have agreed on a revamp of the monetary policy framework to place focus on inflation, a historic move for the economy as policymakers gear up for stronger growth momentum in coming years. The agreement, dated February 20, states that the inflation target "for financial year 2016-17 and all subsequent years shall be 4% with a band of plus or minus 2%.
Eurozone inflation remained negative for the third straight month in February due to falling energy prices. Nonetheless, the rate of decline in overall prices slowed more than expected, diluting fears of deepening deflation even before the European Central Bank practically starts bond purchase this month. The unemployment rate in the 19-nation currency bloc reached its lowest since April 2012.
Chinese policymakers are likely to show willingness to further boost economic growth, after recent economic indicators signaled moderation in activity, at the annual legislative session starting this week. The People's Bank of China reduced its benchmark rate by a quarter point in a surprise move on Saturday.
Flash inflation, unemployment and final manufacturing Purchasing Managers' survey from euro area are due on Monday, headlining a busy day for the European economic news.