October IIP growth release surprised all . 8.2% Growth in October is much higher to the expectation of 5.1% . In Setember 2012 it was -0.4% which got revised to -0.7% . The higher growth is mainly due to the Base impact ( last year same time IIP growth was negative ) and also due to higher seasonality impact of Diwali . The impact of Good IIP data was not significant to both Equity market and FX market , as higher Industrail data and inferiot consumer Inflation data will stop RBI to reduce interest rate in the short run . One more concerning data release was Consumer Price Inflation of November at 9.90% as against 9,75% previous Month. Asexpected Federal Reserve has announced buying of USD 45 Billion ob US treasury Bond each Month ( to replace operation Twist which is expiring on December ) US federal Reserve announce a revised Unemployment (6.5% ) & Inflation ( 2.5% ) target FOMC has decided to keep the interest rate unchanged at 0%~0.25% till the time Unemployment rate reaches 6.5% level FOMC has revised its GDP growth Target of 2013 & 2014 marginally to 2.3% and 3% respectively.
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