Business
RBI may wait for a few more months to raise interest rates, says survey
Faced with relatively low inflation amid a global surge, the Reserve Bank of India will still wait at least a few more months before it joins other central banks in raising interest rates following the pandemic, a Reuters poll found.
Among the hardest-hit emerging economies from shutdowns and disruptions to business by COVID-19, India has only recently begun to recover much of its lost ground and New Delhi’s latest budget was modestly stimulative compared with expectations.
Indeed, the RBI has been notably dovish, having kept its key repo rate at a record low of 4.00% for nearly two years.
Respondents in a Feb. 2-4 Reuters poll were closely split on the timing of the next rise, with slightly more than half, 17 of 32, expecting 25 basis point rise to 4.25% in April.
Among the remaining 15, 13 were nearly split between June and August. While only one economist said it would come as early this month, the other said October of this year.
That would follow a widely-expected interest rate rise from near-zero in March by the U.S. Federal Reserve, which is grappling with the highest consumer inflation since 1982.
Economists expect at least another two to follow, while markets are pricing in four more.
Nearly two-thirds of respondents in the latest poll, 24 of 38, see one more RBI rate rise by year-end, little changed from a poll taken last month.
But the pressure is rising for India’s central bank – well behind peers like Brazil, which has already raised its key interest rate by 875 basis points since March 2021 – to begin tightening.
“Ideally, the RBI should have been more worried about containing inflation, but it has been more worried about lifting growth. It is possibly behind the curve. But at this point, it’s very difficult to say what is right or what is wrong,” said Kunal Kundu, India economist at Societe Generale.
“Post the budget announcement and given a global environment where everybody is normalising monetary policy, I don’t think the RBI has many options left on the table.” The RBI was forecast to raise the reverse repo rate – the rate at which it borrows from banks – to 3.55% from 3.35% at its meeting on Thursday, narrowing the corridor between it and the repo rate to 45 basis points.
India’s central bank has rescheduled its monetary policy committee meeting, delaying it by a day to Feb. 8-10, it said in a statement on Sunday, citing a public holiday in the state of Maharashtra to mourn the death of Bollywood singer Lata Mangeshkar.
Respondents were divided about what would be the biggest driver for RBI rate rises this year.
About half of economists responding to an additional question, 15 of 31, said combating high inflation would steer its moves. Another 12, or 39% of respondents, said playing catch-up with the Fed. The rest said the RBI would tighten policy to prop up the rupee.
“The RBI would not only have to manage the delicate growth-inflation trade off but also find answers to the vexed question of fiscal dominance of monetary policy and prepare itself for any spillovers from accelerated Fed tightening,” noted Samiran Chakraborty, chief economist for India at Citi.
Inflation is expected to remain below the RBI’s upper tolerance limit of 6% until at least 2024, according to the poll, but trend above the medium-term target of 4%.
Asked if the RBI was behind the curve with its monetary policy strategy, 19 of 29 said it was not, while the rest said it was.
Complete News Source : Business Standard
Lifestyle
10 best activities hacks for the better lifestyle for Business Managers.
Table of Contents
Business managers, known for their dynamic and demanding roles, are now adopting innovative activity hacks to improve their lifestyle and well-being. Recognizing the importance of work-life balance and personal wellness, these leaders are implementing a range of activities to foster physical health, mental clarity, and overall satisfaction in their professional and personal lives.
Mindfulness at Work lifestyle
Business managers are incorporating mindfulness practices, such as meditation and deep breathing exercises, into their daily routines to reduce stress and increase focus in high-pressure situations.
Regular Exercise Breaks
Amid tight schedules, managers are embracing short exercise breaks, such as brisk walks or stretching exercises, to stay active throughout the day and boost their energy levels.
Nutrition and Healthy Eating
Prioritizing their well-being, managers are adopting healthier eating habits, including nutritious snacks and well-balanced meals, to sustain their energy during demanding workdays.
Time Management Workshops
Business managers are attending time management workshops to enhance their organizational skills, enabling them to efficiently juggle multiple responsibilities and achieve better work-life integration.
Skill Development Seminars
Recognizing the value of continual growth, managers are attending skill development seminars to stay updated on industry trends and enhance their leadership abilities.
Flexible Work Arrangements
Some forward-thinking companies are offering flexible work arrangements to business managers, providing the freedom to create a more harmonious work-life balance.
Social Engagement
Building a sense of camaraderie, managers are engaging in team-building activities and networking events to foster positive relationships within their professional circles.
Unplugging from Technology: In a digital era, managers are prioritizing personal time by unplugging from technology during non-working hours, allowing for genuine relaxation and recharging.
Pursuing Hobbies and Interests
Managers are rediscovering their passions outside of work, be it painting, gardening, or playing a musical instrument, to unwind and find fulfillment beyond their professional roles.
Encouraging Employee Wellness
Some managers are also promoting wellness initiatives within their teams, encouraging their employees to embrace similar activity hacks and lead healthier lives.
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