Want us to help you with anything?
Request a Call back

This field is required Only alphabetes are allowed
This field is required Only alphabetes are allowed
Please enter valid number
Please enter valid email
Please select product type
Please enter valid pincode

Thank you for your request.

Your reference number is CRM

Our executive will contact you shortly

FOMC maintains status quo



Indian Economic Update


  • The Indian government is set to release the Economic Survey for FY2020 on Friday, which is considered to be a pre-cursor to the Budget.
  • India’s first coronavirus infection was confirmed in Kerala on Thursday. The World Health Organisation (WHO) declared the coronavirus outbreak a public-health emergency of international concern.


Global Update


  • The Federal Open Market Committee (FOMC) maintained status quo on policy rates and its balance sheet strategy that was on expected lines. While there was the annual rotation of voting members that takes place in the new year, the decision was unanimous.
  • There was a small technical adjustment that was made as the Interest On Excess Reserves (IOER) was raised by 5 bps to 1.60%. The hike in IOER was done to raise the effective fed funds rate towards central band of the target fed funds range of 1.5%-1.75%.
  • US President Mr Donald Trump on Wednesday signed the US-Mexico-Canada (USMCA) trade agreement. Mexico has already approved the deal, but it must be ratified by Canada’s parliament before it can take effect.
  • Italy’s Mr Matteo Salvini suffered a defeat in a key regional vote, providing a boost to Prime Minister Mr Giuseppe Conte’s fragile government and making a snap general election less likely.
  • The Bank of England (BoE) opted to maintain status quo and resort to a wait-and-watch mode. The MPC voting pattern remained at 7-2.