1) ECB President Mario Draghi reduced the deposit rate to minus 0.10 percent from zero, making the institution the world’s first major central bank to use a negative rate. Policy makers also lowered the benchmark rate to 0.15 percent from 0.25 percent.
2) The euro has weakened 3.1 percent since touching a 2 1/2-year high on May 8 before Draghi sent it tumbling by saying that the Governing Council would be “comfortable” to act in June.
3) India’s rupee erased gains on speculation the central bank intervened to rein in an advance that’s made the currency the best performing in Asia this year after Pakistan’s rupee.
Debt Market Key Headlines
1) The finance ministry is reportedly examining mergers of the country's state-run banks to create stronger financial institutions. True, Indian banks do not have large enough balance sheets to meet the needs of large rapidly globalizing companies. Small public sector banks could gain economies of scale by merging
2) Also, the global financial crisis in the aftermath of the collapse of Lehman Bros has shown that no country needs a bank that is too big to fail. Small banks, theoretically, do not pose systemic risks and can be allowed to sink.
Read detail analysis report here: - http://www.rrfinance.com/Reserch/ResearchHome.aspx
2) The euro has weakened 3.1 percent since touching a 2 1/2-year high on May 8 before Draghi sent it tumbling by saying that the Governing Council would be “comfortable” to act in June.
3) India’s rupee erased gains on speculation the central bank intervened to rein in an advance that’s made the currency the best performing in Asia this year after Pakistan’s rupee.
Debt Market Key Headlines
1) The finance ministry is reportedly examining mergers of the country's state-run banks to create stronger financial institutions. True, Indian banks do not have large enough balance sheets to meet the needs of large rapidly globalizing companies. Small public sector banks could gain economies of scale by merging
2) Also, the global financial crisis in the aftermath of the collapse of Lehman Bros has shown that no country needs a bank that is too big to fail. Small banks, theoretically, do not pose systemic risks and can be allowed to sink.
Read detail analysis report here: - http://www.rrfinance.com/Reserch/ResearchHome.aspx
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