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Indian central bank expected to cut interest rates

Agence France-PresseMay 2, 2013 17:30
India's central bank is expected to slightly lower interest rates for the third time in a row on Friday, despite warnings from policymakers that the room for cuts is limited. Economists say the Reserve Bank of India is likely to decide on a 25 basis points cut in the benchmark repo rate after meeting in the financial capital Mumbai, with an announcement expected at 11:00am (0530 GMT). They stuck with predictions, based on a recent easing in inflation, despite a late note from the RBI on Thursday warning of factors that may restrict rates cuts this year.

Credit-easing steps taken by the world's central banks, at a glance

The Canadian PressMay 2, 2013 11:00
The European Central Bank cut its key interest rate Thursday by a quarter percentage point to a new all-time low of 0.5 per cent, a move aimed at giving the eurozone economy a push as it struggles to get out of a recession. ECB officials, including its president, Mario Draghi, have said the bank is now looking at methods that go beyond the benchmark interest rate to get more credit to small and medium enterprises. Here is a look at what the ECB and other central banks have done to support growth and make borrowing easier. — BANK OF JAPAN

Indian central bank warns of "limited space" for cuts

Agence France-PresseMay 2, 2013 10:45
India's central bank on Thursday struck a hawkish tone in a report released a day before a monetary policy meeting, saying it had "very limited" space available to cut rates. The report could dent the hopes of economists and the financial markets, who expect the Reserve Bank of India to cut interest rates by 25 basis points on Friday owing to falling inflation and slackening growth.

European Central Bank cuts key rate to new low of 0.5 per cent to help kick-start euro economy

The Canadian PressMay 2, 2013 08:15
FRANKFURT - The European Central Bank cut its key interest rate to a record low 0.50 per cent Thursday and announced other measures to spur lending and help lift the euro area out of a stubborn recession. The bank also extended its offer of unlimited, cheap loans to banks at least through July 2014. Previously, the ECB had planned to end the program as soon as this July The ECB lowered its benchmark refinancing rate from 0.75 per cent, as expected, at a meeting of its rate-setting council in Bratislava, Slovakia.

Expansionary monetary policy positive for global economy: ADB chief

Kyodo News InternationalMay 2, 2013 07:00
Asian Development Bank President Takehiko Nakao said Thursday that the monetary easing policies of developed countries will have a positive effect on the global economy, shrugging off concerns that adverse spillovers would hit emerging economies.

Central banks must adopt new approaches for handling, preventing crises: Carney

The Canadian PressMay 1, 2013 18:31
EDMONTON - Bank of Canada governor Mark Carney says a new age of central banking is being created out of the ruins of the recent financial crisis that if done correctly could help avert, mitigate or at least better manage future economic crashes. One key lesson, he said Wednesday, is that central banks have learned they need a more flexible approach to conducting monetary policy.

Fed suggests more easing if economy falters

Agence France-PresseMay 1, 2013 18:16
The Federal Reserve kept its easy-money policies Wednesday but left the door open to step up bond purchases if the economy slowed under the government's severe "sequester" spending cuts. The central bank's policy board, the Federal Open Market Committee, said after a two-day meeting that the economy continued to grow at a "moderate" pace. But it also said that growth was being restrained by the government's tighter fiscal policy, which imposed tax hikes in January and across-the-board spending cuts in March.

Fed suggests more easing if economy falters

Agence France-PresseMay 1, 2013 16:15
The Federal Reserve held its easy-money policies in place Wednesday but left the door open to step up bond purchases if the economy slows under the government's severe "sequester" spending cuts. The central bank's policy board, the Federal Open Market Committee, said after a two-day meeting that the economy continues to grow at a "moderate" pace. But it also said that growth is being restrained by the cuts to government spending implemented since the beginning of March.

Fed stays easy-money course

Agence France-PresseMay 1, 2013 15:31
The Federal Reserve held its easy-money policies in place Wednesday in the face of a moderately growing economy facing headwinds from the government's severe "sequester" spending cuts. The policy-setting Federal Open Market Committee, as widely expected, kept the central bank's key interest rate at zero to 0.25 percent and its $85 billion a month bond-buying program in place in a bid to support economic growth.

Fed stays easy-money course

Agence France-PresseMay 1, 2013 14:30
The Federal Reserve held its easy-money policies in place Wednesday in the face of a moderately growing economy facing headwinds from the government's severe "sequester" spending cuts. The policy-setting Federal Open Market Committee, as widely expected, kept the central bank's key interest rate at zero to 0.25 percent and its $85 billion a month bond-buying program in place in a bid to support economic growth.
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