Higher crude and commodity prices downside risks to Indian economy: EY
With inflation trending downwards, the Indian economy appears to be quite robust and resilient, EY says in the monthly economy watch report.
With inflation trending downwards, the Indian economy appears to be quite robust and resilient, EY says in the monthly economy watch report.
Oil prices are expected to average $90 a barrel in the current quarter before declining to an average of $81 a barrel next year as global economic growth slows.
The share price of the steel major rebounded 2.5% to ₹118.40, after falling nearly 1% in opening trade on the BSE.
Traders say the prices have zoomed due to supply constraints caused by heavy rains in various parts of the country
Central Banks globally have accumulated gold reserves this year at a pace not seen since 1967.
Against the backdrop of the strengthening Dollar Index that made its two-decade high in September 2022, the rupee managed to close the year at 82.61 to the US dollar, down from 74.29 at end of 2021.
The battle against inflation is not won yet. The fact that core inflation rates, which strip out volatile food and energy prices, have crept up across developed economies, says a CEBR report.
The year proved to be a roller-coaster, not only from the geo-political perspective but also from the point of view of asset management and economics.
US-led dollar bloc uses policy tightening to hit back at commodity producers led by Russia. Indian economy feels the heat.
Commodity prices don’t react to just interest rates but also to supply and demand changes. Higher interest rates mean slower growth prospects, says Prof Sarjanovic.