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Unrest in Hong Kong is spooking markets for fear it could escalate, challenging Beijing to make a measured political response, at a time when Chinese and global growth are at the heart of market anxiety.
Worries about soft Chinese growth and European weakness has made investors uneasy, while the U.S. Federal Reserve signals it is moving away from easy policy and getting closer to returning to a more normal interest rate environment as the U.S. economy gets stronger.
A wave of weekend protests in Hong Kong extended into Monday with thousands defying a government call to end street blockades, after police used tear gas, pepper spray and batons to break up a sit-in by students and other residents seeking democratic elections in the former British colony.
On Wall Street, some strategists see no long-term impact as of now, and they said the protests stretching across Hong Kong's main shopping and business districts are not like the student uprisings that led to a violent crackdown by the Chinese government 25 years ago in Tiananmen Square.
R B I Credit Policy Today.
To break the back of inflation, the Reserve Bank of India is likely to maintain status quo on the policy rate .
Despite positive news on two fronts — ratings agency Standard and Poor’s revising India’s outlook to stable from negative and a reduction in the Government’s borrowing target for the fiscal year by Rs.8,000 crore — the RBI is likely to continue with its fight against inflation, said experts.
This means the Repo rate — or the minimum interest rate at which banks can borrow short-term funds from the RBI — may remain at 8 per cent. The cash reserve ratio (CRR) — the slice of deposits that banks park with the RBI — too may remain unchanged at 4 per cent.
However, experts say the Statutory Liquidity Ratio (SLR) may be reduced by 25-50 basis points from 22 per cent at present. SLR is the portion of deposits that banks have to necessarily invest in government securities.
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