
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
On Monday, Конец формы
State Bank of India, which is the country’s number one lender, diminished interest rates on loans linked to the base rate by up to 30 basis points.
Due to this reduction, the bank’s base rate currently accounts for 8.65%.
The given move will probably benefit a huge number of old borrowers, as a senior SBI official stressed.
Since April 2016, financial institutions shifted to the marginal cost of fund-based lending rate system. It’s because the base rate regime turned to be weak and rigid for rate transmission.
Although some borrowers have already moved to MCLR, a huge number of borrowers, especially in the retail segment, still make use of base rate, as banking analysts revealed.
SBI’s MCLR currently stays in the band of 7.70-8.10%.
SBI’s move to diminish the base rate emerge when a committee established by the Reserve Bank of India advised to have bank lending rates linked to a market benchmark for the purpose of hastening monetary policy transmission and improving transparency in rate setting by lenders.
Representatives from 15 oil-rich nations attend OPEC meetings. They discuss a range of issues regarding energy markets and, most importantly, agree on how much oil they will produce.
On April 22, 2022, from 10:15 to 11:00 MT time, the Markit will release German and French flash services and manufacturing PMI.
The ECB will publish the Monetary Policy statement on Thursday, April 14, at 14:45 MT (GMT+3).
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
The US PPI will come out on Thursday, May 12, at 15:30 MT time.
The US CPI will come out on Wednesday, May 11, at 15:30 MT time (GMT+3).
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