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Friday, December 11, 2009

Parliament OKs $5.5 bln additional spend

The Lok Sa bha on Friday approved extra spending of $5.5 billion for the fiscal year ending March 2010.

The additional spending is needed for food and fertiliser subsidies, wages, infrastructure projects and an equity infusion into state-run carrier Air India.

Finance Minister Pranab Mukherjee has said the additional spending need not be funded through additional borrowing.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jun 25
19:30 New Home Sales (MoM) 1 0.623M 0.690M 0.722M Revised from 0.743M
19:30 Fed's Chair Powell testifies 3
20:00 EIA Crude Oil Stocks Change 1 -5.836M -0.600M -11.473M
22:30 5-Year Note Auction 1 3.879% 4.071%
Thursday, Jun 26
14:00 BoE's Breeden speech 2
15:15 BoE's Greene speech 2
16:30 BoE's Governor Bailey speech 3
18:00 Chicago Fed National Activity Index 1 -0.25
18:00 Initial Jobless Claims 2 245K 245K
18:00 Initial Jobless Claims 4-week average 1 245.5K
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