Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Ministry of Finance of Republic of India : Finance Ministry: Reaction by Indian Stocks and Forex Markets to US Federal Reserve's yesterday decision to raise the target range for the federal funds rate by 25 to 50 bps, underlines the strong macroeconomic fundamentals of the Indian Economy and the efforts made by the present Government to achieve macro stability over the last one and half years.

12/17/2015 | 09:11am EST

Press Information Bureau
Government of India
Ministry of Finance
17-December-2015 19:14 IST

Finance Ministry: Reaction by Indian Stocks and Forex Markets to US Federal Reserve's yesterday decision to raise the target range for the federal funds rate by 25 to 50 bps, underlines the strong macroeconomic fundamentals of the Indian Economy and the efforts made by the present Government to achieve macro stability over the last one and half years.

The US Federal Reserve raised the target range for the federal funds rate by 25 to 50 bps yesterday. Responding to the said decision of the Federal Reserve, the Finance Ministry states that this marks the beginning of gradual withdrawal of the accommodative monetary policy stand adopted since 2006. Going forward, the actions of the US Federal Reserve are expected to be cautious and data driven. The Ministry in a Statement here further stated that the Indian Stocks and Forex Markets have reacted well. Both the benchmark market indices actually rose in early trade today and continue to trade in the green. The rupee is stable in the 66-67/$ range. The Ministry further stated that this underlines the strong macroeconomic fundamentals of the Indian Economy and the efforts we have made to achieve macro stability over the last one and half years. The Ministry further stated that India is much better placed today in terms of real GDP growth, lower inflation, lower current account deficit and on-going fiscal consolidation. We hope to sustain economic reforms going forward into the future, it concluded.

DSM

Ministry of Finance of the Republic of India issued this content on 2015-12-17 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-17 14:10:25 UTC

Original Document: http://pib.nic.in/newsite/PrintRelease.aspx?relid=133518


ę Publicnow 2015
Latest news "Economy & Forex"
05:42pCENTRAL BANK OF BARBADOS : Promoting Regional Economic Growth and Development
PU
05:35pDogecoin Gained 1.70% to $0.211 at 5 p.m. ET -- Data Talk
DJ
05:35pEthereum Lost 0.54% to $4545.44 at 5 p.m. ET -- Data Talk
DJ
05:35pBitcoin Lost 0.42% to $56904.50 at 5 p.m. ET -- Data Talk
DJ
05:34pShell scraps plans to develop Cambo North Sea oilfield
RE
05:34pThe WSJ Dollar Index Rises 0.05% to 90.04 -- Data Talk
DJ
05:34pEuro Lost 0.16% to $1.1303 -- Data Talk
DJ
05:34pSterling Gains 0.21% to $1.3306 -- Data Talk
DJ
05:34pDollar Gains 0.36% to 113.18 Yen -- Data Talk
DJ
05:23pIMF says chief economist Gopinath to replace Okamoto as No. 2 official
RE
Latest news "Economy & Forex"