CASA occupies a 45% share in overall bank deposits; it is FDs, which make the remaining 55%, which will need the rate adjustment
The shift is profound for an asset class that for more than a decade was flooded with cash from investors hunting yield in a low-interest rate environment
Economists and investors expect the UK central bank to raise its benchmark lending rate by three-quarters of a percentage point to 3 per cent on November 3
With this, it has increased policy rate by 1.5 per cent, the highest in a decade
At 3:30 pm IST on Thursday, the US dollar index was at 110.09 as against 112.02 at the same time on Tuesday
There is less money for companies as buyers slow down transactions amid geopolitical tension and higher capital cost.
But Asian markets benefited from speculation among investors that major central banks are considering slowing their aggressive interest hikes, given signs of an economic slowdown
We are positive on select private banks with credit growth picking-up and asset quality outlook being benign/improving.
Gold competes with the dollar a safe store of value and gains in the currency also make bullion unattractive for overseas buyers
For 1 year to less than 2 years, SBI is offering 6.10% as compared to 5.60% earlier
For tax-efficient exposure, go for target maturity funds maturing in 2026-2028
To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank of Philadelphia President Patrick Harker said
Balances of Rs 10 cr and above to earn 3% rate of interest Oct 15 onwards; 2.7% rate unchanged on deposits below Rs 10 cr
Call mkt rates at higher end of rate corridor as liquidity shrinks rapidly
The Reserve Bank of India's currency intervention is making the rupee less attractive for carry traders, analysts said.
The deposits will attract an interest rate of 3%, effective Oct 15. Balances up to Rs 10 cr to earn 2.7% interest
1-year bond yield logs the sharpest fall in two-and-a-half months
But cautions that fight against price rise will be 'dogged and prolonged'
While rising interest rates are expected to hamper affordability among buyers, analysts expect the underlying need for homeownership to remain strong, which would buoy housing sales going ahead
The second-largest US bank's consumer business reported a 12% jump in revenue, helped by higher balances and a rise in interest rates and a 9% jump in combined credit and debit card spend