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Monday, December 22, 2008

Stimulus package to rely on rate cut

The slight rise in credit to industry by banks in the fortnight ending December 5, reversing a sustained decline through November, has given government managers the hope of a revival in the industrial sector. According to RBI data, non-food credit to industry has turned positive at Rs 7,560 crore for the fortnight ended December 5 after turning to a negative of Rs 9 crore in the previous fortnight.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jun 18
23:30 Interest Rate Projections - 1st year 3 3.6% 3.4%
23:30 FOMC Economic Projections 3
Thursday, Jun 19
00:00 FOMC Press Conference 3
01:30 Total Net TIC Flows 1 $-14.2B $253.1B Revised from $254.3B
01:30 Net Long-Term TIC Flows 1 $-7.8B $162.4B Revised from $161.8B
04:15 Gross Domestic Product (QoQ) 3 0.7% 0.7%
04:15 Gross Domestic Product (YoY) 3 -0.8% -1.1%
07:00 Employment Change s.a. 3 25K 89K
07:00 Full-Time Employment 2 59.5K
07:00 Part-Time Employment 2 29.5K
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