An internal working group of the Reserve Bank of India has recommended retaining the Weighted Average Call Rate (WACR) as the main operating target for monetary policy, citing its strong correlation with other overnight rates and effectiveness in signal transmission to instruments like T-bills, CPs, and bonds.
US inflation tops 4% for first time in three years, keeping Fed hike in play
US inflation climbed to 4.1% in May, driven by rising energy prices, keeping the Federal Reserve’s interest rate hike plans on the table for September.