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The Federal Reserve maintained interest rates. Officials anticipate two rate cuts next year. Economic uncertainty persists, though it has lessened. Growth estimates are lowered, while unemployment and inflation forecasts are raised. Seven officials now foresee no rate cuts this year. Investors await insights from Fed Chair Jerome Powell on Trump's policies and potential rate adjustments.
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News and Media
IndusInd Bank's stock witnessed a significant rise. This followed an upgrade by Nomura from 'Neutral' to 'Buy'. The upgrade comes after the bank faced accounting discrepancies. Nomura's target price suggests a substantial upside. The firm acknowledged the bank's commitment to improved governance. RBI's recognition of recovery efforts also boosted confidence.
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News and Media
An RBI investigation revealed lapses in Standard Chartered Bank's sale of complex derivative products, leading to accountability measures. Several employees from the forex derivatives desk have departed amidst intensified scrutiny. Bonuses for senior officials are withheld due to ongoing internal reviews and regulatory concerns regarding inadequate risk disclosures to clients.
Category:
News and Media
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