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Friday, January 29, 2010

Finmin adviser:inflation won't go out of contro

India's rising inflation will not go out of control, the finance ministry's chief economic adviser Kaushik Basu said on Friday.

India's central bank left short-term interest rates unchanged on Friday, as expected, but surprised markets with a higher-than-forecast 75-basis point rise in banks' cash reserve requirements and warned of mounting inflation.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Jun 04
04:30 S&P Global Services PMI 2 50.6 50.5 50.5
04:30 Ai Group Manufacturing PMI 1 -23.5 -26.5
04:30 AiG Industry Index 2 -12.3 -15.0
07:00 Gross Domestic Product (YoY) 2 1.3% 1.5% 1.3%
07:00 Gross Domestic Product (QoQ) 3 0.2% 0.4% 0.6%
14:00 S&P Global Composite PMI 1 49.4 49.4
14:00 S&P Global Services PMI 1 50.2 50.2
16:30 MBA Mortgage Applications 1 -1.2%
17:45 ADP Employment Change 3 115K 62K
18:00 Labor Productivity (QoQ) 1 0.4% 0.6%
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