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Saturday, June 14, 2008

SBI in no hurry to raise rates

State Bank of India Chairman OP Bhatt on Friday said that the bank is not in a hurry to raise the prime lending rates, in the wake of the Reserve Bank of India increasing the repo rates.

Speaking exclusively , Bhatt said that the central bank is likely to maintain its hawkish stance on interest rates to cool prices.

Bhatt said that the bank has a comfortable liquidity position and the recent rise in deposit rates was meant to help maintain liquidity.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Monday, Jul 14
21:00 6-Month Bill Auction 1 4.125% 4.145%
21:00 3-Month Bill Auction 1 4.245% 4.255%
23:30 BoE's Governor Bailey speech 3
Tuesday, Jul 15
04:31 BRC Like-For-Like Retail Sales (YoY) 2 2.7% 0.2% 0.6%
06:00 Westpac Consumer Confidence 2 0.6% 0.5%
17:30 OPEC Monthly Market Report 1
17:45 Housing Starts s.a (YoY) 1 262.5K 279.5K
18:00 NY Empire State Manufacturing Index 2 -8 -16
18:00 Consumer Price Index Core s.a 1 326.85
18:00 Manufacturing Sales (MoM) 1 -1.3% -2.8%
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