Bofa Ml

US shutdown gives RBI chance to shore up forex cover: BofA-ML

Brokerage firm Bank of America Merrill Lynch (BofA-ML) today said the ongoing US government shutdown is positive for the country, as it gives additional time to recoup the forex reserves.

RBI needs $50-100 bn for bullet-proof balance sheet: BofA-ML

The report said the Reserve Bank will withdraw the liquidity tightening not before December, saying the Governor's statement of a "calibrated" withdrawal hints at a delayed response in relaxation

Diesel price hike will take inflation to 7.5-8 percent:BofA-ML

However, the American brokerage said it continues to expect the Reserve Bank to cut policy rates by 25 bps on January 29

These are the 3 reasons why BofA-ML says 'worst over' for India

In addition, it said, RBI Governor Raghuram Rajan is recouping forex reserves to stabilise rupee in Rs 58-62/USD.<br />

Rupee logs six-week peak of 60.29 vs US dollar, up 10 paise

Rupee traded in a narrow range of 60.19 and 60.31, before concluding at its opening level of 60.29 -- a rise of ten paise or 0.17 per cent. This is the strongest level since the the rupee had settled at 60.06 on July 30, 2014.<br />

Rupee to hold at Rs 58-62 against dollar; RBI to buy $40 bn by March'16: BofA

Analysts lifts growth target; SBI sees FY15 GDP touching 5.8%

Official data released on Friday said the GDP is estimated to have grown by 5.7 per cent for the April-June period, as against a 4.6 per cent growth notched for the same period year ago.

RBI may cut policy rates in 2015 even if US Fed hikes rates: BofA-ML

The global brokerage firm believes that there are three main reasons why the RBI is likely to go for a rate-cut even if the Fed hikes rates next year.