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Thursday, April 15, 2010

Mukherjee: Inflationary pressures to stay till June

Inflationary pressures will stay till June, Finance Minister Pranab Mukherjee told reporters on Thursday.

India's wholesale price inflation for March surged to 9.90 percent on the back of high food and fuel prices and headline inflation is now spilling over to the manufacturing sector.

A rate hike by the Reserve Bank of India in its April 20 policy review is a near certainty and the markets have priced in a 25 basis points hike in the policy.

A Reuters poll suggests that analysts expect a 100 basis points hike in key rates from now to end December.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Friday, Jun 20
11:30 Public Sector Net Borrowing 1 £17.686B £20.052B Revised from £20.155B
11:30 Retail Sales (YoY) 2 -1.3% 1.7% 5.0%
11:30 Retail Sales (MoM) 3 -2.7% -0.5% 1.3% Revised from 1.2%
11:30 Retail Sales ex-Fuel (YoY) 2 -1.3% 1.8% 5.2% Revised from 5.3%
11:30 Retail Sales ex-Fuel (MoM) 2 -2.8% -0.5% 1.4% Revised from 1.3%
18:00 Philadelphia Fed Manufacturing Survey 2 -1 -4
18:00 Industrial Product Price (MoM) 1 0.0% -0.8%
18:00 Raw Material Price Index 1 -0.8% -3.0%
18:00 New Housing Price Index (MoM) 1 -0.2% -0.4%
18:00 New Housing Price Index (YoY) 1 -0.6%
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