The Federal Reserve made another big interest rate hike and sharply increased its outlook for how high it expects to raise rates in coming months
Powell's remarks will be scrutinised by Wall Street traders and economists and could potentially cause sharp swings in financial markets
"So, I don't see any adverse impact of that (rate hike by Fed) because Reserve Bank of India, in the two previous cycles, has already taken adequate measures," he said
The Fed’s move boosted its benchmark short-term rate, which affects many consumer and business loans, to a range of 3 per cent to 3.25 per cent, the highest level since early 2008
The Fed's move will raise its key rate, which affects many consumer and business loans, to a range of 2.25 per cent to 2.5 per cent, its highest level since 2018
A worse-than-expected inflation report for May — consumer prices rocketed up 8.6 per cent from a year earlier, the biggest jump since 1981 — helped spur the Fed to raise its benchmark interest rate by three-quarters of...
The rate hikes could spell bad news for the Indian IT companies which earn a large chunk of their revenue from companies in the US
At the interbank foreign exchange, the rupee opened strong at 78.06 against the US dollar, then inched lower to quote 78.07, registering a rise of 15 paise over the last close. It was moving in a very tight range in early...
On a month-to-month basis, prices rose 0.3 per cent from March to April, the smallest increase in eight months.
The increase in the Fed's key rate raised it to a range of 0.75% to 1%, the highest point since the pandemic struck two years ago.
Markets would also track the investment pattern of foreign institutional investors, movement in Brent crude, and the rupee.